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
1-800-259-9010


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?

 

 

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