ASD and NYSE take disciplinary actions against firms and individuals for violations of NASD and NYSE rules; federal securities laws, rules, and regulations; and the rules of the Municipal Securities Rulemaking Board. These actions range from mere censures to a bar from the securities industry. Please note that many of the reported disciplinary incidents result without the individual having admitted or having denied the allegations, having submitted what is called an "Acceptance, Waiver and Consent".

The NASD also publishes complaints that have been filed, but issues this disclaimer:

"Issuance of a disciplinary complaint represents the initiation of a formal proceeding by NASD in which findings as to the allegations in the complaint have not been made, and does not represent a decision as to any of the allegations contained in the complaint. Because these complaints are unadjudicated, you may wish to contact the respondents before drawing any conclusions regarding the allegations in the complaint."

On FinancialCounsel.com we report only NASD complaints issued as well as NASD and NYSE disciplinary incidents against individuals which, at a minimum, have resulted in suspensions of 1 year or greater. For further information, including disciplinary incidents resulting in suspensions less than 1 year, as well as disciplinary incidents and complaints filed against member brokerage firms, visit www.nasdr.com, clicking on Regulatory Enforcement and then clicking on Monthly Disciplinary Actions. For further information as to NYSE disciplinary actions against firms and individuals, visit www.nyse.com, clicking on Regulation and then clicking on Disciplinary Actions.

Search here for brokers with significant disciplinary incidents or complaints filed against them:

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