B-D to Pay $500K, Settling Charges Firm Improperly Used Paid Consultants

published Mar 09, 2011
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About BNA Broker/Dealer Compliance R...

Enforcement: Dallas-based Southwest Securities Inc. has agreed to be fined $500,000 by the Financial Industry Regulatory Authority, settling charges it violated Municipal Securities Rulemaking Board Rule G-38 by using paid consultants-including former state municipal issuer officials-to solicit municipal securities business (In re Southwest Securities Inc., FINRA, No. 20090162756, 2/8/11).

Source: BNA - Broker/Dealer Compliance Report
Document ID: A0C6Q3A7J7_bdc-bul
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