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Cambridge Capital, LLC

Cambridge Capital, LLC (CRD #41464, Garden City, New York) received a censure and fine of $31,500. In addition, the firm was ordered to pay $9,702.50 in restitution to customers. The firm must provide satisfactory proof of restitution payment to the NASD no later than 90 days after acceptance of the AWC. According to the findings, failed to disclose the difference between the price to the customer and the firm's contemporaneous purchase for customer purchases or sale price for customer sales in riskless principal transaction confirmations. The regulators found that the customers did not receive best execution. This resulted in $9,702 in damages to the customers. Apparently, the firm failed to have proper written supervisory procedures in place to ensure that customer confirmations for riskless principal transactions contained the correct disclosures. The firm accepted the fine and censure but did not admit or deny the accusations. (NASD Case #C3A000038)

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