Park Avenue Securities was censured and fined $175,000 the stockbrokerage became aware that two of the stockbrokers were involved with unapproved private securities transactions, involving a false scheme. The firm then conducted an inadequate investigation of the sales activities of one of the two stockbrokers, and should have found additional customers to whom misleading information had been provided. The supervision system of Park Avenue Securities was inadequate. (November 2011 2009016911203).