SEC Kicks Off Prudential Broker's Trial Over Market-Timing

Law360, New York (November 16, 2011, 4:55 PM EST) -- Launching the trial of Frederick O'Meally, a former top Prudential Securities Inc. broker dubbed the “poster child” of market-timing, government lawyers told a New York federal jury Wednesday that O'Meally had ignored thousands of requests he stop the controversial practice.

Once a senior vice president at Prudential who was among its top 10 brokers, O'Meally, is accused of civil securities fraud for allegedly market-timing on behalf of his hedge fund clients even as the mutual funds he traded in repeatedly demanded he stop.

“Two thousand five...
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