Spitzer Indicts Another Broker For Late Trading

Sep 22 2006 | 12:10pm ET

New York Attorney General  (and Democratic candidate for governer of the Empire State) Eliot Spitzer will force us to eat some crow. In spite of our prediction last week that the late-trading/market-timing scandal was winding to a close, the AG found a new broker to throw the book at.
 
James Wilson of Manhattan was indicted on 11 counts related to his alleged role in making late trades of mutual fund shares for hedge fund clients of Trautman Wasserman & Co.

Janus Capital Group got in trouble last month for allegedly bending its rules regarding market-timing for Trautman customers.

If convicted, Wilson, who’s out on bail, faces four years in prison.


In Depth

Q&A: MackeyRMS's Chris Mackey On A High Tech Fix To Broker Votes

Jun 23 2017 | 8:17pm ET

The looming implementation of the EU’s MiFID II rules regarding research has put...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: Asia-Focused Hedge Funds Offer Great Opportunities

Jun 23 2017 | 3:33pm ET

Emerging market strategies have outperformed their developed-market peers for five...

 

From the current issue of