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Janney to pay $850,000 to settle SEC charges
July 11, 2011 / 9:15 PM / 6 years ago

Janney to pay $850,000 to settle SEC charges

WASHINGTON, July 11 (Reuters) - Broker-dealer Janney Montgomery Scott LLC has agreed to pay $850,000 to settle charges it failed to protect against the misuse of material, non-public information, the U.S. Securities and Exchange Commission said on Monday.

The SEC said that from at least January 2005 through July 2009, Janney’s policies and procedures for its Equity Capital Markets division were deficient, creating the risk of insider trading.

Philadelphia-based Janney settled without admitting or denying the charges.

Editing by Bernard Orr

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