The National Association of Securities Dealers says it has fined USAllianz Securities $5 million on charges it failed to supervise its sales representatives adequately.
USAllianz Securities, which now operates as Questar Capital Corp., Ann Arbor, Mich., is a unit of Allianz A.G., Munich.
NASD, Washington, charged that from April 2001 through March 2006, USAllianz failed to reasonably supervise the activities of its registered representatives.