Violation Tracker Individual Record

Company: 
Miller Tabak Roberts Securities, LLC
Penalty: 
$5,000,000
Year: 
2004
Date: 
July 28, 2004
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Secondary Offense: 
financial institution supervision failures
Violation Description: 

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.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Financial Industry Regulatory Authority
Civil or Criminal Case: 
civil
Notes: 

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).

Source Notes: 
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Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.