Organization and Management: When CEOs Behave Badly...

DWT Annual Review 2005

NEW YORK-Bad behavior among top trading firms and their IT suppliers appears to be a perennialphenomenon and 2005 was no different.

Some of the highlights include a $1.4 million fine by the National Associationof Securities Dealers (NASD) against State Street Global Markets. The recordfine against the subsidiary of State Street Corp. was for violations relatingto the reporting of corporate and municipal bond trades. The fine was the largestto date "against a single firm for fixed income trade

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