The company is said to have filed inadequate breakpoint information in a March 2003 NASD survey on breakpoints that the regulatory body sent industry-wide to 2,000 brokerages, well ahead of New York Attorney General Eliot Spitzer's fund-trading probe. Oppenheimer Holdings, whose roots date to 1881, most recently was known as Fahnstock Viner Holdings.
The significance of NASD's pending charges against Lowenthal, industry insiders say, is that regulators have not dropped the ball on breakpoints--and are now holding top executives responsible.
Shareholder advocate and
