NASD fines Citizens Bank for failures including 529 deficiencies
NASD announced it has fined CCO Investment Services Corp., a wholly-owned subsidiary of Citizens Bank of Rhode Island, a total of $850,000 for a series of failures relating to its securities business. Among the issues cited by NASD were deficiencies in the firm's review and approval of 529 plan business.The release does not indicate which portion of the fine relates specifically to the 529 issues.
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