Four Wall Street firms have been slapped with a total fine of $1.25 million for violating short-sale regulations that the Securities and Exchange Commission put into effect in January. Crain’s New York Business reports that the New York Stock Exchange imposed a $400,000 fine on Daiwa Securities after its proprietary trading desk failed to indicate that an estimated 103,000 orders were long, short or short-exempt, as well as for not properly calculating net positions or adequately supervising its staff. Goldman Sachs Execution & Clearing was hit with a $350,000 penalty also for not properly monitoring business activities that are said to have led to incorrectly marked orders. Citigroup Global Markets and Credit Suisse Securities were each ordered to pay $250,000 for similar violations.
