FINRA fines TD Ameritrade unit for failing to report options positions

Reuters

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

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

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

FINRA, Wall Street's industry-funded regulator, also finedSG Americas Securities $675,000 for failing to reportover-the-counter options positions in about 500,000 instancesfrom December 2007 to January 2013.

Both companies neither admitted nor denied the charges, butconsented to the entry of FINRA's findings in concluding thesettlements, the regulator said.

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