Violation Tracker Individual Record
NASD fined CCO Investment Services Corp., a wholly-owned subsidiary of Citizens Bank of Rhode Island, a total of $850,000 for failing to establish, maintain and enforce a reasonably designed supervisory system and written procedures relating to a series of issues-including customer suitability reviews, telemarketing compliance, internal inspections, review of written correspondence, registration of offices and review and approval of 529 Plan business.
NASD Fines Citizens Bank Affiliate, CCO Investment Services Corp., $850,000 for Supervisory, Recordkeeping, Telemarketing, Other Violations, PR Newswire, October 16, 2006 (via Nexis).
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).