Violation Tracker Individual Record
Company:
Spear, Leeds & Kellogg, L.P
Current Parent Company:
Goldman Sachs
Penalty:
$1,000,000
Year:
2005
Date:
March 22, 2005
Offense Group:
financial offenses
Primary Offense:
investor protection violation
Secondary Offense:
financial institution supervision failures
Violation Description:
NASD censured and fined Spear, Leeds & Kellogg, L.P. $1 million for creating and implementing an internal system to conceal sales of securities allocated in initial public offerings (IPOs) from the Depository Trust Corporation (DTC).
Level of Government:
federal
Action Type:
agency action
Agency:
Financial Industry Regulatory Authority
Civil or Criminal Case:
civil
HQ Country of Parent:
USA
HQ State of Parent:
New York
Ownership Structure of Parent:
publicly traded
Major Industry of Parent:
financial services
Specific Industry of Parent:
banking & securities
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:
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note:
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.
