NYSE Regulation Inc. said Wednesday that it had disciplined nine member firms and eight individuals with censures and fines for various securities violations.
The New York Stock Exchange's regulatory arm said HSBC Holdings PLC's HSBC Securities Inc. unit had consented to a $500,000 fine and a remediation plan in response to its practice of recommending and selling Libor certificates of deposit to customers for whom such products were unsuitable.
Citigroup Global Markets Inc., a unit of Citigroup Inc., was fined $300,000 for submitting inaccurate reports of short positions.
RBC Capital Markets Corp. was fined jointly by NYSE, the Financial Industry Regulatory Authority, and the American Stock Exchange for submitting inaccurate short position reports. RBC is to pay a fine of $225,000 in three installments of $75,000 to each entity.
Interactive Brokers LLC, a unit of Interactive Brokers Group Inc., was fined $250,000 for financial and operational deficiencies and trading violations, including odd-lot trading activity.
Merrill Lynch Pierce Fenner & Smith Inc., a unit of Merrill Lynch & Co. Inc., and Nasdaq Execution Services were fined $100,000 and $190,000, respectively, for trading violations.
UBS Securities LLC, a unit of UBS AG, was fined $150,000 for failing to include required disclosures in published research reports, and Mesirow Financial Inc. was fined $60,000 for financial and operating deficiencies.
NYSE fined Susquehanna Brokerage LP $75,000 for failing to supervise and control floor trading activities.
All the companies consented to the fines without admitting or denying guilt.
