NYSE Reg delivers June fines & censures

NYSE Regulation Inc. announced that it disciplined five firms and 21 individuals this month.

NYSE Regulation Inc. announced that it disciplined five firms and 21 individuals this month.
The regulatory body of the New York Stock Exchange said it censured and fined New York-based Morgan Stanley $500,000 for failing to supervise and detect employees that were improperly recommending investments.
Crowell Weedon & Co., a Los Angeles-based member firm, was fined $225,000 for failing to deliver prospectuses to customers on time and for violations of consumer disclosure requirements.
JP Morgan Securities Inc., a unit of New York-based JPMorgan Chase & Co., was fined $150,000 for inaccurate reserve account and net capital computations.
HLA Securities Inc. of New York was censured and fined $60,000 for violating SEC rules on short selling and several supervisory violations.
SDS Securities Corp. of New York was fined $40,000 for various reporting, books and records, operational and supervisory violations.
Each of the firms agreed to the penalties without admitting or denying wrongdoing.