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Westminster Securities Corporation

Westminster Securities Corporation (CRD #6105, New York, New York) received a censure and fine of $35,000. The firm was also required, within 30 business days, to revise its written supervisory procedures with respect to applicable securities laws and regulations and NASD rules concerning trade reporting. According to the findings, the firm failed, within 90 seconds after execution, to transmit through ACT last sale reports of transactions in NNM, NASDAQ SC and OTC equity securities. The regulators also found that the firm failed, within 90 seconds after execution, to transmit through ACT last sale reports of transactions in NNM and OTC Equity securities and failed to designate through ACT such last sale reports as late. The firm accepted the fine and censure but did not admit or deny the accusations. (NASD Case #CMS040092)

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