Lek Securities and Samuel F. Lek, CEO of the firm, are facing charges that they facilitated manipulative trading by one of its customers, dubbed “Avalon.” The charges are being brought by the self-regulatory organization Financial Industry Regulatory Authority (FINRA) in conjunction with the New York Stock Exchange, NYSE Arca, NYSE MKT; four Bats Exchanges (Bats… Read More >>
Citi Pays $25 Million Penalty for Spoofing
The CFTC has fined Citigroup Global Markets Inc. $25 million for spoofing, citing the actions of traders and managers who demonstrated a lack of proper supervision, training and regulatory compliance. Spoofing, the commission says, is “bidding or offering with the intent to cancel the bid or offer before execution.” In this case, the spoofing took… Read More >>
