The US regulator NASD fined Fidelity Investments $3.75m (€2.86m) partly for its role in a scandal over improper gifts to traders while the Securities and Exchange Commission continues its investigation.

NASD fined four Fidelity Investments subsidiaries a total of $3.75m for various infractions. The NASD said Fidelity did not maintain registrations for 1,100 employees and allowed them to "park" their registrations without the proper documentation; failed to assign registered supervisors to 1,000 registered employees; and did not comply with NASD email-retention rules between 2001 and 2004.