The allegations read: Nasd rules 2110, 3110: respondent, acting on behalf of his member firm, failed to adequately ensure that the firm's ledgers and other records accurately reflected all assets, liabilities and expenses of the firm; filed inaccurate financial and operational combined uniform single (focus) reports; failed to maintain minimum net capital requirement; failed to give timely notice to the sec and nasd of material inadequacy in the firm's accounting system and/or net capital deficiencies.
