Violation Tracker Individual Record
: National Securities Corporation
: December 19, 2005
: financial offenses
: investor protection violation
: financial institution supervision failures
: 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.
Level of Government
: agency action
: Financial Industry Regulatory Authority
Civil or Criminal Case
Source of Data
: 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).
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for an updated link.
Current parent company note
: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log