Broker-Dealer Settles FINRA Charges for Failure to Properly Handle Limit Orders

A broker-dealer settled FINRA charges that it failed to immediately execute, route or display customer limit orders in OTC securities that would lock or cross the market, and thus failed to execute the limit order against a market maker's quote.

To settle the charges, the broker-dealer agreed to a (i) censure and (ii) fine of $40,000.