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The NSC has settled with the SRO over charges that the brokerage attempted to artificially influence the market for securities offered via 10 IPOs.
Clearly, FINRA, the brokerage industry’s self-regulatory authority, is not happy with the National Securities Corp. FINRA has ordered NSC to pay approximately $9 million, “including disgorgement of $4.77 million in net profits the firm received for underwriting 10 public offerings in which NSC attempted to artificially influence the market for the offered securities.” The firm neither confirms nor...
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