Violation Tracker Individual Record
NASD ordered Thomas Weisel Partners of San Francisco, CA to pay $1.75 million for engaging in improper initial public offering (IPO) allocation practices and for failing to retain e-mails. That total represented $1.3 million in ill-gotten profits and an additional $450,000 fine.
Thomas Weisel Partners to Pay $1.75 Million to Settle NASD Charges of IPO, E-Mail Retention Violations, PR Newswire, March 30, 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).