National Securities Corporation (CRD #7569, Seattle, Washington)
was censured and fined $35,000 for allegedly filing late amendments to Forms U4 and Uniform Termination Notices for Securities Industry Registration (Forms U5), and reclassified customer complaints as sales practice violations, after discussions with FINRA, which resulted in additional late filings.
FINRA's findings stated that National Securities Corporation filed late reports of statistical and summary information regarding customer complaints and settlements.
Also, FINRA's findings stated that National Securities Corporation failed to enforce its established WSPs to ensure timely and accurate NASD Rule 3070 reporting, and the filing of Forms U4 and U5.
(FINRA Case #2011025633901)
The summation of information from FINRA's "Disciplinary and Other FINRA Actions February 2015," ends here.
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