TD Ameritrade, SocGen Broker-Dealers Face $1.8M In Fines

Law360, New York (November 6, 2013, 1:35 PM EST) -- The Financial Industry Regulatory Authority on Wednesday fined a TD Ameritrade Inc. subsidiary $1.15 million and a Societe Generale SA subsidiary $675,000 for not accurately reporting large options positions the broker-dealers held.

FINRA said that TD Ameritrade Clearing Inc. hadn't established proper oversight procedures and failed to report 1.4 million options positions between May 2007 and January 2010, while SG Americas Securities LLC didn't accurately report about 2 million various over-the-counter options positions or related information between December 2007 and January 2013 and didn't have proper...
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