NASD fines 29 investment firms
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Twenty-nine investment firms, including some of Wall Street's biggest names, have been fined a total $9.2 million by securities regulators who said they were late in reporting disciplinary history and other data about their brokers. The investment arms of Merrill Lynch &amp; Co. and Wachovia Corp. were barred from registering new brokers for five business days.
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Broker watchdog NASD said on Friday it  fined wireless equipment analyst Walter Piecyk $75,000 for  spreading a rumor that cellphone chipmaker RF Micro Devices'  RFMD.O largest customer was delaying an order.
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Stanley Inc. of Arlington said last week that it has been added to a list of 29 companies eligible to receive work under a five-year, $50 billion contract managed by the General Services Administration.
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Business & money: Investors who buy shares in companies to agitate for change could face fines or even prosecution.
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H&amp;R Block Inc.&#39;s (HRB.N: Quote, Profile, Research) financial advisors unit was charged with fraud by the NASD for misrepresenting the risks to investors of bonds from Enron Corp.
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The Robertson Stevens Investments firm agreed to pay $30 million to settled allegations it allowed &quot;excessive&quot; market timing in its mutual funds, New York Attorney General Eliot Spitzer said Wednesday.
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A federal court ordered Stephen Richards, head of worldwide sales at CA Inc.,  to pay $29.7 million in restitution to stockholders for his part in a major fraud scheme at the software company.
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NASD on Monday said it fined Morgan Stanley (MWD.N: Quote, Profile, Research) $100,000 for failing to tell municipal bond investors that their bond holdings could be called before the maturity date, which could result in
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Fedex Corpâs express air shipping unit has been ordered by the US government to repay $29m in excess funds received under an act established after the Sept.
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KeyCorp said on Friday the NASD has preliminarily decided to recommend disciplinary action against McDonald Investments, accusing the bank&#39;s brokerage unit of allowing improper mutual fund trading.
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H&R Block's  broker affiliate was censured and fined &#36;500,000 for enabling a hedge fund customer in its Orlando office to engage in deceptive practices to market-time mutual funds, regulators said on Tuesday.
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Fidelity Investments will pay $3.75 million in fines for supervisory failures, including allowing traders to accept gifts like Super Bowl tickets and chartered flights, NASD, the brokerage industryâs main regulator, said yesterday.
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Seven regional brokerage firms have been fined a total $3.65 million by federal regulators for allegedly failing to disclose that they received payments for issuing research on certain companies, in a settlement announced Wednesday.
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The NASD said Wednesday that it had fined Wells Fargo and its former director of research for failing to disclose that an analyst had taken a job with the company she was recommending.
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The National Association of Securities Dealers on Wednesday charged American Funds Distributors Inc., a unit of The Capital Group Cos., with violating a rule by directing approximately &#36;100 million in kickbacks over three years to about 50 brokerage firms that were the top sellers of American Funds' mutual funds.
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Federal officials said the investigation started with more than 30 Chinese companies, which were shipping raw materials to labs in the United States and nine other countries.
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NASD said it had fined Raymond James Financial $2.75 million for failing to supervise more than 1,100 branch managers nationwide.