Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Wednesday, February 7, 2007

Disciplinary Action in Specialists' Trading Case

NYSE Regulation announced disciplinary action against the former President of specialist firm Fleet Specialist, and others, in connection with the activities of its floor traders, who stepped in front of customers' trades for profit.  The honesty and integrity of the trading floor is of utmost importance both to the market and to investors,” said Susan Light, senior vice president of Enforcement, NYSE Regulation. “NYSE Regulation has vigorously pursued disciplinary actions against specialists and clerks, as well as their supervisors, who abused the public trust and disadvantaged customer orders. Supervisors who have been notified of misconduct must thoroughly review each situation and take appropriate action.”

Other Regulatory Action | Permalink

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