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NASD bans Quattrone from securities industry for life

[JURIST] NASD's National Adjudicatory Council (NAC) on Monday permanently barred Frank Quattrone from working in the securities industry in any capacity for refusing to testify about his possible involvment in document destruction and obstruction of justice while at Credit Suisse First Boston. The decision overrules that of an earlier hearing panel, which had decided merely to fine Quattrone $30,000. Yahoo! News has more. Earlier this year, Quattrone was found guilty in federal court of obstruction of justice, and was sentenced to 18 months in prison.

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