1. 'Unpapered' Options Trading in Day-Trading Accounts, Annual Certification.  
2. Erroneous Trade Reporting to FINRA TRF. 
   
3. Erroneous Posting, Omitted Disclosure of Order-Handing Statistics.
   

For further details on all cases, click onto:  FINRA's Disciplinary and Other Actions for October 2010.

    1.  Firm (Issaquah, WA) fined $15K, along with Registered Principals ... for allegedly allowing opening options transactions in accounts without signed options agreements.  Acting through Principal Rodgers, NWT Financial Group allegedly allowed accounts to day-trade prior to firm approval, failed to evidence that accounts had been approved for day-trading and failed to evidence that customers had been furnished a risk disclosure statement prior to engaging in day-trading activities.  Each of these accounts had come to firm as part of a mass transfer of accounts from a former member firm.  In addition, acting through Principals Rodgers and Niederkrome, firm allegedly failed to complete annual certification of firm’s supervisory control pols and procedures .   the firm had in place processes to establish, maintain, review, test and modify written compliance policies and WSP's to comply with applicable securities rules and regulations.  (FINRA Case #2009016295901)

    2.  Firm (White Plains, NY) fined $10K ... for allegedly reporting last sale reports of transactions in designated securities to the FNTRF that it was not required to report.  Brookview Capital failed to report to the FNTRF the correct symbol indicating the capacity in which it executed transactions in reportable securities and failed to report to the FNTRF the correct time of execution for transactions in reportable securities.  [C-I Note:  This case begs to ask the question:  was this a matter sloppy "ticket" preparation or simply human errors?  And, should the firm pass along the fine - albeit relatively small - to trader(s)?]  (FINRA Case #2008015259001)

    3.  Firm (Chicago, IL) fined $17.5K ... for allegedly making posting incorrect order-handling statistics for a calendar quarter.  Regarding its routing of non-directed orders in covered securities, firm included incorrect percentages for the number of non-directed market, limit and other orders sent to the various exchanges. Fortis Clearing Americas - nka ABN Amro Clearing Chicago - apparently also failed to disclose to customers in one annual disclosure that individual routing information was available upon request.  Among other things, firm allegedly failed to evidence that it performed supervisory reviews for best execution (Three Quote Rule), order marking requirements, locate requirements and books and records. (FINRA Case #2009017016101)