Trident Partners, Ltd. (CRD #41258, Jericho, New York) received a censure and fine of $17,500. According to the findings, the firm failed to comply with SEC Rule 15c2-4, in that the firm did not set up a bank escrow account in connection with a contingency offering of an affiliated issuer and permitted excessive commissions to be charged in agency transactions and excessive markups to be charged in principal transactions. The regulators also found that the firm effected transactions in corporate debt securities during a time when its membership agreement had not been amended to include corporate debt securities as a business line. The firm accepted the fine and censure but did not admit or deny the accusations. (NASD Case #CLI1050001)
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