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Wien Securities Corporation

Wien Securities Corporation (CRD #10467, Jersey City, New Jersey) received a censure and fine of $20,000. Additionally, the firm is required to revise its written supervisory procedures concerning ACT short sale reporting, Small Order Execution SystemSM (SOESSM) trading, locked and crossed markets, information barriers, OATS, and the regular and rigorous assessment of competing markets. According to the findings, the firm executed short sale transactions and failed to report each of these transactions to ACT with a short sale modifier. The NASD also found that the firm failed to immediately display customer limit orders in its public quote, when each such order was at a price better than its public quote, or at a price equal to its public quote. The firm accepted the fine and censure but did not admit or deny the accusations. (NASD Case #CMS010078)

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