Violation Tracker Individual Record

Company: 
Ameritrade, Inc.
Penalty: 
$10,000,000
Year: 
2004
Date: 
March 11, 2004
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Violation Description: 

NASD Ameritrade, Inc., Datek Online Financial Services, LLC (Datek), and iClearing, LLC $10 million for improperly extending credit to customers in violation of federal securities laws. As a result of a merger effective September 2002, Datek and iClearing became affiliates of Ameritrade, Inc. of Omaha, NE.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Financial Industry Regulatory Authority
Civil or Criminal Case: 
civil
Notes: 

FINRA is a securities industry self-regulatory body authorized by the federal government. This case was handled by its predecessor, the National Association of Securities Dealers (NASD).

Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.