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FINRA Fines CDS Brokers $4.3M In Rate-Fixing Action

By Elaine Meyer (June 25, 2010, 3:45 PM EDT) -- The Financial Industry Regulatory Authority has fined Phoenix Derivatives Group LLC and eight brokers, three of whom work with the firm, a total of $4.3 million for communicating with each other about fixing brokerage rates in the wholesale credit default swap market....

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