Oppenheimer & Co. Inc., f/k/a Fahnestock & Co. Inc.
Oppenheimer & Co. Inc., f/k/a Fahnestock & Co. Inc. (CRD #249, New York, New York) received a censure and fine of $32,500. According to the findings, the firm effected short sales in certain securities for the firmís proprietary accounts and failed to make and annotate an affirmative determination that the firm could borrow the securities or otherwise provide for delivery of the securities by the settlement date. The regulators also found that the firm executed short sale orders in Consolidated Quotation System (CQS) securities and failed to properly mark the orders as short in its trading ledger. The findings stated that the firm failed to provide written notification disclosing to its customers its correct capacity in a transaction and incorrectly stated its capacity as agent on a customer confirmation. The firm accepted the fine and censure but did not admit or deny the accusations. (NASD Case #CMS040156)
Did Oppenheimer & Co. Inc., f/k/a Fahnestock & Co. Inc. manage your investments?
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