Violation Tracker Individual Record
: First Allied Securities, Inc.
: October 3, 2005
: financial offenses
: investor protection violation
: financial institution supervision failures
: NASD fined First Allied Securities, Inc. $408,000 for facilitating the deceptive efforts of three hedge fund customers to engage in improper market timing transactions. NASD also ordered First Allied to pay approximately $326,500 to reimburse the affected funds.
Level of Government
: agency action
: Financial Industry Regulatory Authority
Civil or Criminal Case
Source of Data
: NASD Fines First Allied Securities Over $400,000, Orders More Than $325,000 in Restitution for Market Timing Violations, PR Newswire, October 3, 2005 (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).
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Current parent company note
: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log