SEC Accuses Ex-Wall Street Broker Of Late Trading

Law360, New York (October 3, 2006, 12:00 AM EDT) -- In the latest hit in the Securities and Exchange Commission’s investigations into market timing of mutual fund trading, former Wall Street Access broker Gene Mancinelli has been accused of making more than 2,000 illegal late trades in 2001.

The civil charges filed against Mancinelli allege that he made the trades for a hedge fund client from April through October of 2001. The client had at least 10 accounts at Wall Street Access to allow it to continue making late trades even after mutual funds tried to...
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