KeyCorp's B-D Settles with NASD
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Friday, March 11, 2005

KeyCorp's B-D Settles with NASD

KeyCorp's broker-dealer subsidiary McDonald Investments will pay a $275,000 fine to resolve market timing allegations with the NASD, the company disclosed in a Friday filing.

KeyCorp officials stated that the company had submitted a consent letter to the NASD in late February, and that the offer was in turn accepted by NASD regulators on March 10.

The NASD alleged that McDonald failed to properly supervise and detect mutual fund trading abuses.

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