Violation Tracker Individual Record
NASD fined Janney Montgomery Scott LLC $1.2 million for permitting improper market timing and related violations. In addition, NASD ordered the firm to pay nearly $1 million in restitution to the affected mutual funds.
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).