Securites Fraud Attorneys SHEPHERD, SMITH & EDWARDS, LLP
stock fraud online consultations
Skip to main content
about Our Stock Attorneys contact stock lawyers securities arbitration questions Securities fraud news Broker Misconduct Resources and links about investment protection en Espanol
Free Consultation

or call

W. R. Hambrecht & Co., L.L.C.

W. R. Hambrecht & Co., L.L.C. (CRD #45040, San Francisco, California) received a censure and fine of $20,000. According to the findings, the firm failed to report correctly to ACT the transaction type for transactions that were reported as cross transactions when they were, in fact, riskless principal transactions; failed to prepare and retain an order ticket for one side of the trade in trades effected on a riskless principal basis; and failed to indicate the time of execution on order tickets in trades effected on a riskless principal basis. The regulators also found that the firmís Anti-Money Laundering (AML) Program was not approved in writing by a member of senior management; failed to identify the internal controls the firm would implement to detect attempts to open correspondent accounts by foreign banks; and failed to require the address of U.S. designated agents when opening correspondent accounts for foreign banks. The firm accepted the fine and censure but did not admit or deny the accusations. (NASD Case #C01040028)

Did W. R. Hambrecht & Co., L.L.C. manage your investments?



If you would like one of our specialists to provide a free consultation, please let us know how to reach you:

 Your Name

 Your Phone

 Your Question / Situation