The Financial Industry Regulatory Authority fined an Atlanta-based securities firm $40,000 for failing to record private securities transactions and failing to report municipal securities transactions in a timely manner, the self-regulator announced yesterday.

FINRA suspended MidSouth Capital Inc. from approving any private securities transactions involving a hedge fund or a private investment partnership formed or managed by the firm’s employees for six months beginning Dec. 3, 2007. It also suspended Mark David Hill, the firm’s chairman and chief executive officer, from associating with any FINRA member for a 20-day period that also began last month.

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