Violation Tracker Individual Record
NASD ordered Goldman, Sachs & Co., Deutsche Bank Securities, Inc., Miller Tabak Roberts Securities, LLC and Citigroup Global Markets Inc. to pay $5 million each for rule violations relating to trading in corporate high yield bonds. All four firms were cited for charging excessive markups or markdowns, inadequate record keeping and supervision violations. The firms were also ordered to revise their written supervisory procedures for high yield bond sales and purchases within 60 days.
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).