City National Securities has agreed to pay $315,000 and to submit a plan to buy back at par certain municipal auction-rate securities to settle charges with the Financial Industry Regulatory Authority that it failed to disclose ARS risks to customers and properly supervise sales.

FINRA announced the settlement with the Beverly Hills, Calif.-based firm, a so-called downstream ARS dealer, in its monthly disciplinary actions, along with fines of $43,000 against Deutsche Bank Securities Inc. and $15,000 against Raymond James & Associates Inc., for failing to timely or adequately report trades of municipal and corporate bonds.

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