Sky Capital Files $300M Complaint Against NASD

Law360, New York (November 29, 2006, 12:00 AM EST) -- Sky Capital LLC filed claims with the Securities and Exchange Commission against the NASD Tuesday, requesting $100 million in damages and an additional $200 million fine for the securities regulator which, Sky alleged, has been needlessly punishing the securities dealer since it joined the NASD in 2001.

In the 51-page filing, Sky claims that it has “endured a relentless pattern of harassment by the NASD,” including eight regulatory examinations and interference with Sky’s efforts to expand its business.

Sky says none of the investigations initiated by...
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