(Editor’s Note: Digital Age market manipulation via practices known as “spoofing” and “layering” are hitting home for many firms and regulators are beginning to take notice. For instance, the Financial Industry Regulatory Authority (FINRA) and major exchange companies recently alleged that the broker-dealer, Lek Securities, and its CEO facilitated acts of layering, spoofing and cross-product… Read More >>
Lek Securities Charged with Aiding Fraud via Client
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 >>
