The GMS Group, LLC (CRD #8000, Livingston, New Jersey) received a censure and fine of $10,000. According to the findings, the firm maintained the registration of a general securities representative with the firm even though the individual was not active in the firmís investment banking or securities business and was not functioning as a representative. The regulators also found that the firm failed to prevent each from effecting, transactions in U.S. Government securities when they were not registered in a capacity that qualified them to effect such transactions. The firm accepted the fine and censure but did not admit or deny the accusations. (NASD Case #C9B040065)
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