Firms, NYSE Settle On $10.4M For Violations

Law360, New York (October 8, 2007, 12:00 AM EDT) -- Fourteen New York Stock Exchange member firms have agreed to pay a total of $10.425 million to put to rest allegations of prospectus delivery failures and other violations, NYSE Regulation Inc. said Monday.

NYSE Regulation claimed that the firms, which included Deutsche Bank Securities Inc., Lehman Brothers Inc. and UBS AG, failed to ensure the delivery of prospectuses to customers who purchased securities and mutual funds as well as product descriptions to customers who purchased Exchange Traded Funds. The firms also failed to properly supervise and...
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