Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:NASD Warns BD Over Breakpoints Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, August 10, 2005

NASD Warns BD Over Breakpoints

by: Theresa Sim

Albert Lowenthal, chairman of Oppenheimer Holdings, may face action from the NASD related to the company's violations related to an industry-wide breakpoint survey that was conducted in 2003, the brokerage disclosed in an SEC filing on Tuesday.

The NASD claims that Lowenthal "failed to properly oversee a response to an industry-wide NASD mutual fund breakpoint survey conducted in 2003 or that he permitted the filing of incorrect data in that response," according to the filing.

The issue seems to be whether the data Oppenheimer filed in response to the industry-wide probe was deficient. According to Oppenheimer, the company notified regulators that it had "certain limitations" in its ability to get the data requested by the NASD, but was not given any extensions in time to file appropriate data.

Two days after Oppenheimer submitted data, the NASD told the firm that its "submission was deficient," wrote officials in the filing.

After the study, Oppenheimer also conducted its own breakpoint analysis for fund trades from 2000 to the present and has begun refunding affected clients.

Oppenheimer is cooperating, but contesting the charges against Lowenthal, wrote officials in the filing.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use