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Violation Tracker Individual Record

Company: Phoenix Derivatives Group, LLC
Penalty: $3,000,000
Year: 2010
Date: June 24, 2010
Offense Group: financial offenses
Primary Offense: investor protection violation
Secondary Offense: financial institution supervision failures
Violation Description: The Financial Industry Regulatory Authority imposed finesagainst Phoenix Derivatives Group, LLC of New York and eight brokers - three employed at Phoenix and five at four other interdealer brokerage firms - for improper communications about customers' proposed brokerage rate reductions in the wholesale credit default swap (CDS) market.
Level of Government: federal
Action Type: agency action
Agency: Financial Industry Regulatory Authority
Civil or Criminal Case: civil
Source of Data: (click here)
Archived Source: (click here)
Notes: FINRA is a securities industry self-regulatory body authorized by the federal government.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.