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Former NYSE Trader Settles SEC Fraud Claims

Law360 (May 29, 2009, 12:00 AM EDT) -- A former New York Stock Exchange trader under fire for alleged improper floor trading activity while working at Fleet Specialists Inc. has settled a securities fraud action brought against him and 19 other Wall Street specialists by the U.S. Securities and Exchange Commission.

The SEC announced Thursday that it had signed off on a settlement offer extended by David A. Finnerty, a former Fleet specialist who helped facilitate trades for companies such as General Electric Co. and Celera Genomics Group between 1999 and 2003, the terms...
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