NASD fines State Street for reporting failures

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US regulator NASD has fined Boston-based State Street Global Markets $1.4 million in what is the largest fine imposed by the securities market regulator against any single firm for violations relating to fixed-income trade reporting.

State Street Global Markets, a subsidiary of State Street Corporation, was fined for failing to report thousands of corporate bond trades to NASD's Trade Reporting and Compliance Engine (Trace) and hundreds of municipal bond trades to the Municipal Securities Rul

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