Investment Services Capital Corp. (CRD #31271, Haverstraw, New York) received a censure and fine of $10,000. Additionally, the firm was required to revise its written supervisory procedures with respect to the OATS Rules. According to the findings, the firm submitted to OATS reports with respect to equity securities traded on The Nasdaq Stock Market that were not in the electronic form prescribed by the NASD. Apparently, the reports were rejected by the OATS system and notice of such rejection was made available to the firm on the OATS Web Site and the firm did not correct or replace the reports and, thus, failed to correctly report such information to OATS. The firm accepted the fine and censure but did not admit or deny the accusations.
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