A U.S. subsidiary of Dutch financial services firm ING Group said on Friday the NASD has made a preliminary recommendation that an enforcement action be brought against an affiliate and one of its registered agents, Reuters reports.

ING Insurance Co. of America said that ING Funds Distributor had received a notice from the regulatory agency and it has an opportunity to respond before NASD staff makes a final recommendation, according to a filing with the Securities and Exchange Commission.

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