The New York Stock Exchange announced discipline penalties against two firms.

Swiss American Securities Inc. consented without admitting or denying guilt to findings of operational and supervisory deficiencies. The NYSE imposed a penalty of a censure and a $100,000 fine. The firm consented to the penalty.

An NYSE hearing panel found that examinations of the firm, conducted by NYSE Regulation’s Division of Member Firm Regulation in 2004 and 2005, determined that the firm was not in complete compliance with rules regarding the physical possession and control of all fully-paid and excess margin securities carried for the account of customers.

Also, UBS Securities LLC consented without admitting or denying guilt to findings of trading and supervisory violations. The NYSE imposed a penalty of a censure and a $95,000 fine, and the firm consented to the penalty.

The violations include: entering or cancelling market-on-close or limit-on-close orders in various securities after the relevant cut-off times, entering MOC or LOC orders in a variety of securities after 3:40 p.m. where no published imbalance existed or on the same side of a published imbalance. It also found that the firm failed to reasonably supervise and implement adequate supervisory procedures, including a separate system of follow-up and review, reasonably designed to achieve compliance.