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Scottrade, SEC In $950K Deal Over Order Execution

Law360 (June 24, 2008, 12:00 AM EDT) -- Broker-dealer Scottrade Inc. has agreed to pay almost $1 million to quell the U.S. Securities and Exchange Commission's charges over alleged misrepresentations to customers about the execution of certain orders between 2001 and 2004.

Under the deal, Scottrade will be censured and will pay a $950,000 penalty, though the St. Louis-based company will not admit or deny the SEC's claims. Scottrade was also ordered to cease and desist from future violations of Section 15(c)(1)(A) of the Securities Exchange Act of 1934, which the SEC said Scottrade...
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