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Fidelity brokerage fined for document destruction

Fidelity Brokerage Services, the broking arm of US fund manager Fidelity, will pay $2m (€1.7m) to settle allegations levelled against it by the US Securities and Exchange Commission and the New York Stock Exchange that it altered and destroyed important documents in violation of federal securities laws.

Fidelity will pay a $1m civil penalty to the SEC and a $1m fine to the NYSE.

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