Violation Tracker Individual Record
NASD fined two firms, First Avantus Securities, Inc. of Austin, TX, and National Securities Corporation of Seattle, WA, as well as their clearing firm, First Clearing Corporation of Glen Allen, VA, for engaging in conduct that circumvented and/or assisted in circumventing the net capital rule.
NASD Issues Fines Over $300,000 for Facilitating Net Capital Violations, ComplyNet, December 19, 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).