Oppenheimer & Co. Inc. Fined by FINRA
An AWC was issued in which the firm was censured, fined $85,000 and required to revise its WSPs. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to record Not Held terms and conditions on its order memoranda for institutional customers of one of the firm’s trading desks and for those orders it transmitted reports to the Order Audit Trail System (OATS™) that failed to contain the Not Held special handling code.
