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NASD Expels Brokerage From Industry

Law360 (April 27, 2006, 12:00 AM EDT) -- In a severe regulatory action, the National Association of Securities Dealers has expelled a brokerage firm and its former chief from the securities industry over widespread violations of the agency’s rules.

The firm, Dallas-based Salomon Grey Financial Corp., drew the ire of the NASD over the sheer breadth and depth of the violations, each of which was serious enough to pose a substantial risk to the firm’s customers, according to the agency.

Solomon Grey and its former chief, Kyle Browning Rowe, were barred over charges of...
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