NYSE Fines Broker-Dealer for Violations Relating to Odd-Lot Transactions, Blue Sheets, and Supervision

February 2, 2011

The NYSE fined a broker-dealer nearly $400,000 for a number of violations, including, (1) violation of Rule of Rule 411(b)(1) for entering numerous principal odd lot market orders without aggregating them into round-lots; (2) violation of Rule 410A by failing to submit complete and accurate information on blue sheet response requests; (3) violation of Rule 342 by failing to reasonably supervise and implement controls designed to comply with NYSE rules as to odd-lot orders and blue sheet submission. The action also addresses similar violations by the firm on NYSE Arca.

Cross References

NYSE Rules 342, 410A, 411(b)(1)