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: Sancus Capital And The Disruption Of The CLO Market

Oct 5 2017 | 6:28pm ET

Traditional collateralized loan obligation (CLO) funds in the U.S. market can offer...

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

Finding Success as Alternatives Converge

Oct 9 2017 | 4:00pm ET

Rising interest among institutional investors over the past several years has led...