Sorta OT: American Stock Exchange Announces Disciplinary Actions Against 17 Current and Former Specialist Firms Tuesday September 26, 4:15 pm ET
NEW YORK, Sept. 26 /PRNewswire/ -- The American Stock Exchange® ("Amex®") today announced settled disciplinary actions against AGS Specialists, LLC; AIM Securities, LLC; Bear Hunter Structured Products, LLC; Bear Wagner Specialists, LLC; Charlton Specialist Partners, LLC; Cohen, Duffy & McGowan, LLC; Goldman Sachs Execution and Clearing, LLP (F/K/A Spear, Leeds and Kellogg, LLP); Group One Trading, LP; HBH Specialists, LLC; Jane Street Specialists, LLC (F/K/A Bowery Specialists Group, LLC); Kellogg Capital Group LLC (F/K/A Performance Capital Group LLC); LaBranche & Co., LLC; LaBranche Structured Products, LLC; SLK-Hull Derivatives, LLC; Susquehanna Investment Group; TD Options LLC; and Wolverine Trading LLC for violations of Amex and Securities and Exchange Commission rules and regulations related to order handling and specialist obligations from 2002 through 2005. The firms consented to censures and fines totaling $2,575,000.
In addition, some of the firms agreed to supervisory undertakings designed to enhance their compliance with these requirements.
"These settlements represent the culmination of long investigations, and underscore the critical importance of compliance with these order handling rules," said Claudia Crowley, Senior Vice President and Chief Regulatory Officer of the Amex.
"The Amex takes its regulatory responsibilities very seriously and we have implemented substantial technology and automation enhancements that now assist our specialists in complying with their order handling obligations," said Neal Wolkoff, Amex Chairman and CEO. "We are pleased that these specialist firms have resolved these past matters."
In settling these matters, the firms neither admitted nor denied the charges, but consented to the entry of the Amex's findings.
The American Stock Exchange® (Amex®) is the only primary exchange that offers trading across a full range of equities, options and exchange traded funds (ETFs), including structured products and HOLDRS(SM). In addition to its role as a national equities market, the Amex is the pioneer of the ETF, responsible for bringing the first domestic product to market in 1993. Leading the industry in ETF listings, the Amex lists 195 ETFs. The Amex is also one of the largest options exchanges in the U.S., trading options on broad-based and sector indexes as well as domestic and foreign stocks. For more information, please visit http://www.amex.com.
-------------------------------------------------------------------------------- Source: The American Stock Exchange
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