ðə nˈæsd pˈʌblɪkli ɐnˈaʊnst ˌɔn noʊvˈɛmbɚ θɹˈiː, tˈuː θˈaʊzənd θɹˈiː ðˌɐɾɪt hˌæd "fˈaɪld ɐ dˈɪsɪplˌɪnɛɹi ˈækʃən ɐɡˈɛnst pˈiːɾɚ kˈɛlɑːɡ ɐlˈɛdʒɪŋ ðæt hiː dᵻɹˈɛktᵻd fɹˈɔːdʒuːlənt wˈɑːʃ tɹˈeɪdz ænd mˈætʃt tɹˈeɪdz bᵻtwˌiːn fˈoːɹ ɐkˈaʊnts hiː kəntɹˈoʊld" dˈʊɹɹɪŋ ˈɔːɡəst tˈuː θˈaʊzənd wˈʌn.
The NASD publicly announced on November 3, 2003 that it had "filed a disciplinary action against Peter Kellogg alleging that he directed fraudulent wash trades and matched trades between four accounts he controlled" during August 2001.