Violation Tracker Individual Record
NASD censured and fined Sigma Financial Corporation of Ann Arbor, MI and its president $135,000 for violating NASD's Code of Arbitration Procedure-by frivolously pursuing legal action against an elderly couple who had won an arbitration award against the firm.
NASD Fines Sigma Financial for Suing Customers in Violation of NASD's Arbitration Code, PR Newswire, December 9, 2004 (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).