Citigroup, Wachovia Securities, Charles Schwab, JP Morgan and Commerzbank have been forced to pay fines totalling just under $1m for a catalogue of violations against New York Stock Exchange rules and federal security laws.

The NYSE took disciplinary action against the five firms, criticising them over inadequate procedures or supervisory deficiencies, although each was fined for different offences. All have consented to pay the penalties imposed without admitting or denying guilt over the NYSE's findings.