NASD Hits Broker With Its Largest Fine Ever
The fine, which was announced Wednesday, is the largest ever issued by the NASD. It went against Paul Saunders, the chairman, CEO and majority owner of Richmond, Va.-based James River Capital Corp.
“Deceptive market timing designed to exceed prospectus limitations and evade insurance company and mutual fund restrictions not only violates ethical standards but may also harm investors,”...
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