NASD Penalizes for Perks

In the first two weeks of February, NASD (the governing body for securities firms) sanctioned several companies, including Fidelity Investments, for violations of regulations applying to gifts, entertainment, and meetings.

On February 5, NASD fined four Fidelity brokerage units $3.75 million in the aftermath of a gift and entertainment probe dating back to 2004. The probe had previously resulted in fines against the New York-based brokerage firm Jeffries & Co., as well as a decisi

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