November 6, 2013 / 4:06 PM / 4 years ago

FINRA fines TD Ameritrade unit for failing to report options positions

Nov 6 (Reuters) - The Financial Industry Regulatory Authority (FINRA) has fined a unit of TD Ameritrade Holding Corp , the biggest U.S. discount broker, $1.15 million for failing to report options positions and related supervisory deficiencies.

TD Ameritrade Clearing Inc failed to properly aggregate certain reportable positions between May 2007 and January 2010, which impacted nearly 4,100 accounts and resulted in the firm failing to report about 1.4 million positions, FINRA said.

Canada’s Toronto-Dominion Bank is TD Ameritrade’s biggest shareholder with a 42 percent stake.

FINRA, Wall Street’s industry-funded regulator, also fined SG Americas Securities $675,000 for failing to report over-the-counter options positions in about 500,000 instances from December 2007 to January 2013.

Both companies neither admitted nor denied the charges, but consented to the entry of FINRA’s findings in concluding the settlements, the regulator said.

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