MEMBER FIRM: WIEN SECURITIES CORP.
BD NUMBER: 10467
NASD Member Firm: WIEN SECURITIES CORP.
BD Number: 10467
12/15/98 SUMMARY INFORMATION
12/15/98: 11/24/97 NASD CENSURE AND FINE
ACCEPTANCE, WAIVER AND CONSENT; WIEN SECURITIES CORPORATION WAS CENSURED AND
FINED $22,500.00 BY THE NASD'S DEPARTMENT OF ENFORCEMENT AND THE NATIONAL
BUSINESS CONDUCT COMMITTEE. THE NASD ALLEGED SEPARATE AND DISTINCT VIOLATIONS
OF NASD MARKETPLACE RULES 4632(A), 4642(A) AND 6620 IN THAT THE FIRM FAILED TO
DESIGNATE AS LATE TO ACT 10 TRANSACTIONS IN CERTAIN SECURITIES, 21
TRANSACTIONS IN CERTAIN SECURITIES AND 19 TRANSACTIONS IN CERTAIN SECURITIES.
THE FIRM COMMITTED SEPARATE AND DISTINCT VIOLATIONS OF NASD CONDUCT RULE 2110
IN THAT THE FIRM DESIGNATED AS LATE TO ACT NINE TRANSACTIONS IN CERTAIN
SECURITIES AND 18 TRANSACTIONS IN CERTAIN SECURITIES. IN ADDITION, THE FIRM
COMMITTED SEPERATE AND DISTINCT VIOLATIONS OF NASD MARKETPLACE RULES 4632(A),
4642 (A) AND 6620(A) IN THAT THE FIRM IMPROPERLY DESIGNATED TO ACT THREE
TRANSACTIONS IN CERTAIN SECURITIES, TWO TRANSACTIONS IN CERTAIN SECURITIES AND
SIX TRANSACTIONS IN CERTAIN SECURITIES. FURTHERMORE, THE FIRM COMMITTED
SEPARATE AND DISTINCT VIOLATIONS OF THE SECURITIES EXCHANGE COMMISSION RULE
17A-4 AND NASD CONDUCT RULE 3110 IN THAT FOR THE PERIOD OF, ON OR ABOUT MAY
1994 THROUGH APRIL 1996, THE FIRM FAILED TO PRESERVE A MEMORANDUM OF EACH
BROKERAGE ORDER, AND OF ANY OTHER INSTRUCTION, GIVEN OR RECEIVED FOR THE
PURCHASE OR SALE OF SECURITIES, WHETHER EXECUTED OR UNEXECUTED; AND A
MEMORANDUM OF EACH PURCHASE AND SALE FOR THE ACCOUNT OF THE FIRM. FINALLY,
THE FIRM FAILED TO ESTABLISH, MAINTAIN AND ENFORCE WRITTEN SUPERVISORY
PROCEDURES REASONABLY DESIGNED TO ACHIEVE COMPLIANCE WITH THE APPLICABLE
SECURITIES LAWS AND REGULATIONS REGARDING TRADE REPORTING, RECORD KEEPING, THE
LIMIT ORDER PROTECTION INTERPRETATION AND CUSTOMER CONFIRMATIONS. THIS
CONSTITUTES A VIOLATION OF NASD CONDUCT RULES 2110 AND 3010***$22,500 PAID ON
2/20/98, INVOICE NO. 98-MS-103***[NASD COMPLAINT# CMS970054]hk
12/15/98: 7/02/97 NASD FINE
ACCEPTANCE, WAIVER AND CONSENT; WIEN SECURITIES CORP. WAS FINED $3,000 BY THE
MARKET REGULATION AND NATIONAL BUSINESS CONDUCT COMMITTEE FOR VIOLATION OF
MARKETPLACE RULE 4613(d) FOR ENTERING QUOTATIONS INTO THE NASDAQ SYSTEM THAT
EXCEEDED THE PARAMETERS FOR MAXIMUM ALLOWABLE SPREADS.*** $3,000 PAID ON
8/21/97, INVOICE #97-MS-676***[NASD COMPLAINT NO. CMS960070 AWC] hk
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12/15/98: 10/26/92 NASD FINE
ACCEPTANCE, WAIVER AND CONSENT; FINED $500 BY THE NASD FOR VIOLATIONS OF PART
IV, SECTION 2(B) OF THE SCHEDULE D FOR BACKING AWAY. [NASD COMPLAINT NO.
CMS920087AWC]
12/15/98: 10/23/91 NASD FINE
ACCEPTANCE, WAIVER AND CONSENT; WIEN SECURITIES CORP. WAS FINED $500 BY THE
NASD FOR VIOLATION OF ARTICLE III, SECTION 1 AND SEC RULE 15c2-11. [NASD
COMPLAINT NO. MS-1141-AWC(A)] jd
12/15/98: 4/02/91 ILLINOIS STIPULATION ORDER
ILLINOIS ENTERED A TEMPORARY ORDER WHICH SUSPENDS THE FIRM'S REGISTRATION IN
THE STATE OF ILLINOIS. IT IS BASED UPON A DETERMINATION THAT RESPONDENT FAILED
TO HAVE A SALESPERSON REGISTERED IN THE STATE OF ILLINOIS AS REQUIRED BY THE
ILLINOIS SECURITIES LAW OF 1953, AS AMENDED. THE TEMPORARY ORDER SHALL BECOME
FINAL IN 30 DAYS UNLESS A HEARING IS REQUESTED. **RESPONDENT AGREED TO PROVIDE
EVIDENCE THAT IT HAS COMPLIED WITH RULE 130.810(d)(4) OF THE ILLINOIS
SECURITIES LAW OF 1953, AS AMENDED AND HAS SUBMITTED $250.00 FOR THE COST OF
THE ILLINOIS SECURITIES DEPARTMENT INVESTIGATION. THE ILLINOIS SECURITIES
DEPARTMENT HAS AGREED TO DISMISS THE PENDING ADMINISTRATIVE HEARING AND LIFT
THE PENDING TEMPORARY ORDER OF SUSPENSION. **RESPONDENT REQUESTED A HEARING TO
DETERMINE WHETHER THE CURRENT TEMPORARY ORDER OF SUSPENSION IS APPROPRIATE.
HEARING IS SCHEDULED FOR MAY 15, 1991. THE TEMPORARY ORDER OF SUSPENSION SHALL
REMAIN IN EFFECT UNTIL FURTHER ORDER AND DETERMINATION. [IL DOCKET/CASE# NOT
PROVIDED]jd
12/15/98: 10/15/90 NASD FINE
ACCEPTANCE, WAIVER AND CONSET; WIEN SECURITIES CORP. WAS FINED $500 BY THE
NASD FOR VIOLATIONS OF PART VI, SECTION 2(d) OF SCHEDULE D FOR ENTERING NASDAQ
QUOTATIONS CONTAINING EXCESS SPREADS. [NASD COMPLAINT NO. #MS-967-AWC (A)]jd
12/15/98: 9/10/81 SIPC LIQUIDATION
A CONSENT ORDER WAS ENTERED IN SECURITIES INVESTOR PROTECTION CORPORATION V.
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M.S. WIEN & CO., APPOINTING A TRUSTEE FOR THE LIQUIDATION OF THE FIRM PURSUANT
TO THE SECURITIES INVESTOR PROTECTION ACT OF 1970. [NJ DOCKET/CASE# CIV NO.
81-2864-U.S. ]bo
12/15/98: 5/01/72 SEC CEASE AND DESIST ORDER
CONSENT; M.S. WEIN & CO., INC. CONSENTED, WITHOUT ADMITTING OR DENYING THE
TRUTH OF THE ALLEGATION, A CEASE AND DESIST ORDER BY THE SEC. THE SEC
COMPLAINT ALLEGED THAT THE FIRM PARTICIPATED WITH A CERTAIN FIRM IN A TENDER
OFFER FOR CERTAIN SHARES IN VIOLATION OF CERTAIN PROVISIONS OF THE SECURITIES
EXCHANGE ACT OF 1934. THE FIRM WAS ENJOINED FROM VIOLATING SUCH PROVISIONS OF
THE ACT. [SEC COMPLAINT # NOT PROVIDED]bo
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