NASD Regulation Inc. today settled five separate disciplinary actions against day-trading firms in the United States.

These actions come as the result of examinations conducted by NASDR that focused on day-trading activities. The five actions include findings of violations of the federal securities laws and NASD rules for: misleading advertising, registration violations, improper loans, improper sharing of commissions, short sale violations, trade reporting violations and deficient supervisory procedures.

Without admitting or denying the allegations, all firms involved accepted the sanctions that include censures, the expulsion of one firm and suspensions and fines against firms and individuals ranging from US$10,000 to US$75,000.

The actions were investigated and filed by NASDR offices in New Orleans and Dallas. They represent a continuing effort on the part of NASDR to address problem areas in day-trading business practices.

The firms sanctioned are: Landmark Securities Corp., Momentum Securities LLC, CyBerBroker Inc., Cornerstone Securities Corp, and Summit Trading Inc.