Pru-Bache's System Flaws Targeted By NYSE Verdict
THIS WEEK'S LEAD STORIES
Prudential-Bache Securities Inc. recently consented to findings by the New York Stock Exchange's division of enforcement that inadequate computer capabilities had contributed to its violation of several NYSE and Securities and Exchange Commission rules.
As a penalty, the firm agreed to pay a $750,000 fine and to include substantial surplus funds in its reserve account for the next year.
Inaccurate computation of reserve requirements, inaccurate computation of net capital, and failure to obtain and
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