News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

NASD fines 29 firms for late reporting

Merrill Lynch and Wachovia, the US investment banks, have been suspended from registering new brokers for five working days by a US regulator for persistently missing the deadline for reporting information.

The National Association of Securities Dealers, the US watchdog, also fined the two firms and 27 others a combined total of over $9.2m (€6.9m) for such late reporting.

WSJ Logo