FAHN - part 2
12/15/98: 11/06/97 NASD ARBITRATION
SUBJECT OF AN NASD ARBITRATION AWARD. THE ARBITRATION INVOLVED A PUBLIC
CUSTOMER AND WAS FILED BECAUSE OF THE FOLLOWING DISPUTE(S): UNAUTHORIZED
TRADING; ACCOUNT RELATED - FAILURE TO SUPERVISE; BRCH OF FIDUCIARY DT. THE
AWARD INCLUDED: ACTUAL/COMPENSATORY DAMAGES, AMOUNT ASKED BY
CUSTOMER-$71,522.00, AMOUNT AWARDED TO CUSTOMER-$18,823.14 JOINTLY AND
SEVERALLY; ACTUAL/COMPENSATORY DAMAGES, AMOUNT ASKED BY CUSTOMER-$0.00,
AMOUNT AWARDED TO CUSTOMER-$1,754.89 JOINTLY AND SEVERALLY;
ACTUAL/COMPENSATORY DAMAGES, AMOUNT ASKED BY CUSTOMER-$0.00, AMOUNT AWARDED
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TO CUSTOMER-$0.00 JOINTLY AND SEVERALLY; PUNITIVE/EXEMPLARY DAMAGES, AMOUNT
ASKED BY CUSTOMER-$0.00, AMOUNT AWARDED TO CUSTOMER-$0.00 JOINTLY AND
SEVERALLY; ATTORNEY'S FEES, AMOUNT ASKED BY CUSTOMER-$0.00, AMOUNT AWARDED TO
CUSTOMER-$20,000.00 JOINTLY AND SEVERALLY. [NASD ARBITRATION CASE NO.
96-02680]
12/15/98: 9/11/97 NASD ARBITRATION
SUBJECT OF AN NASD ARBITRATION AWARD. THE ARBITRATION INVOLVED A PUBLIC
CUSTOMER AND WAS FILED BECAUSE OF THE FOLLOWING DISPUTE(S): ACCOUNT
RELATED-BREACH OF CONTRACT; BRCH OF FIDUCIARY DT; ACCOUNT RELATED-NEGLIGENCE;
ACCOUNT RELATED - FAILURE TO SUPERVISE. THE AWARD INCLUDED:
ACTUAL/COMPENSATORY DAMAGES, AMOUNT ASKED BY CUSTOMER-$59,868.00, AMOUNT
AWARDED TO CUSTOMER-$15,000.00 JOINTLY AND SEVERALLY; PUNITIVE/EXEMPLARY
DAMAGES, AMOUNT ASKED BY CUSTOMER-$100,000.00, AMOUNT AWARDED TO
CUSTOMER-$0.00 JOINTLY AND SEVERALLY; ATTORNEY'S FEES, AMOUNT ASKED BY
CUSTOMER-$0.00, AMOUNT AWARDED TO CUSTOMER-$0.00 JOINTLY AND SEVERALLY; OTHER
COSTS, AMOUNT ASKED BY CUSTOMER-$0.00, AMOUNT AWARDED TO CUSTOMER-$0.00
JOINTLY AND SEVERALLY; OTHER MONETARY RELIEF, AMOUNT ASKED BY CUSTOMER-$0.00,
AMOUNT AWARDED TO CUSTOMER-$3,750.00 JOINTLY AND SEVERALLY; TREBLE DAMAGES,
AMOUNT ASKED BY CUSTOMER-$119,736.00, AMOUNT AWARDED TO CUSTOMER-$0.00
JOINTLY AND SEVERALLY. [NASD ARBITRATION CASE NO. 95-03206]
12/15/98: 5/01/97 NASD CENSURE AND FINE
OFFER OF SETTLEMENT FILED APRIL 17, 1996 AND OCTOBER 26, 1996; FAHNESTOCK &
CO., INC. WAS CENSURED AND FINED $6,500 BY THE NASD FOR VIOLATION OF NASD
CONDUCT RULE 2110 AND MARKETPLACE RULE 4730(B)5 OF THE RULES OF THE
ASSOCIATION. [NASD COMPLAINT NO. UNSPECIFIED]
12/15/98: 4/27/97 NASD FINE
ACCEPTANCE, WAIVER AND CONSENT; FAHNESTOCK & CO., INC. WAS FINED $2,000.00 BY
THE NASD. THE AWC ALLEGES THAT FAHNESTOCK VIOLATED MARKETPLACE RULE 4613E FOR
ENTERING OR MAINTAINING QUOTATIONS IN THE NASDAQ STOCK MARKET, DURING NORMAL
BUSINESS HOURS, WHICH CAUSED A LOCKED MARKET CONDITION TO OCCUR IN THREE
SECURITIES. [NASD COMPLAINT NO. CMS960202 AWC]
12/15/98: 4/23/97 NASD FINE
ACCEPTANCE, WAIVER AND CONSENT; FAHNESTOCK WAS FINED $10,000.00 BY THE NASD.
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THE AWC ALLEGES THAT FAHNESTOCK VIOLATED SEC RULE 17A-3 AND NASD CONDUCT RULE
3010. FAHNESTOCK RECORDED AN INACCURATE EXECUTION TIME ON ORDER TICKETS FOR
215 TRANSACTIONS AND FAILED TO CREATE RECORDS SHOWING THE ENTRY OF TWO ORDERS.
IN ADDITION, FAHNESTOCK FAILED TO ESTABLISH AND MAINTAIN WRITTEN SUPERVISORY
PROCEDURES DESIGNED TO DETECT AND DETER TRADE REPORTING FUNCTIONS. [NASD
COMPLAINT NO. CMS960226 AWC]
12/15/98: 12/30/96 NASD ARBITRATION
SUBJECT OF AN NASD ARBITRATION AWARD. THE ARBITRATION INVOLVED A PUBLIC
CUSTOMER AND WAS FILED BECAUSE OF THE FOLLOWING DISPUTE(S): UNAUTHORIZED
TRADING; EXECUTIONS-FAILURE TO EXECUTE; MISREPRESENTATION; SUITABILITY. THE
AWARD INCLUDED: ACTUAL/COMPENSATORY DAMAGES, AMOUNT ASKED BY
CUSTOMER-$18,123.11, AMOUNT AWARDED TO CUSTOMER-$2,000.00; INTEREST, AMOUNT
ASKED BY CUSTOMER-$0.00, AMOUNT AWARDED TO CUSTOMER-$0.00 JOINTLY AND
SEVERALLY. [NASD ARBITRATION CASE NO. 96-05716]
12/15/98: 10/11/96 NASD ARBITRATION
SUBJECT OF AN NASD ARBITRATION. THE ARBITRATION INVOLVED A PUBLIC CUSTOMER
AND WAS FILED BECAUSE OF THE FOLLOWING DISPUTE(S): MANIPULATION; SUITABILITY;
UNAUTHORIZED TRADING; ACCOUNT RELATED - FAILURE TO SUPERVISE. THE AWARD
INCLUDED: ACTUAL/COMPENSATORY DAMAGES, AMOUNT ASKED BY
CUSTOMER-$5,000,000.00; INTEREST, AMOUNT ASKED BY CUSTOMER-$0.00; ATTORNEY'S
FEES, AMOUNT ASKED BY CUSTOMER-$0.00; OTHER COSTS, AMOUNT ASKED BY
CUSTOMER-$0.00; OTHER MONETARY RELIEF, AMOUNT ASKED BY CUSTOMER-$0.00;
PUNITIVE/EXEMPLARY DAMAGES, AMOUNT ASKED BY CUSTOMER-$10,000,000.00;
ACTUAL/COMPENSATORY DAMAGES, AMOUNT ASKED BY CUSTOMER-$7,500,000.00;
INTEREST, AMOUNT ASKED BY CUSTOMER-$0.00; ACTUAL/COMPENSATORY DAMAGES, AMOUNT
ASKED BY CUSTOMER-$0.00; ATTORNEY'S FEES, AMOUNT ASKED BY CUSTOMER-$0.00;
PUNITIVE/EXEMPLARY DAMAGES, AMOUNT ASKED BY CUSTOMER-$10,000,000.00; OTHER
COSTS, AMOUNT ASKED BY CUSTOMER-$0.00; OTHER MONETARY RELIEF, AMOUNT ASKED BY
CUSTOMER-$0.00. RELIEF REQUESTS HAVE BEEN DENIED IN FULL. [NASD ARBITRATION
CASE NO. 95-01176] |
