Seven Trading Firms Fined $2.8 Million By NYSE

Law360, New York (January 17, 2007, 12:00 AM EST) -- A day after the New York Stock Exchange hit seven companies with a combined $2.8 million in fines for multiple trading violations, all seven have chosen to settle their shares of the penalty.

On Tuesday, the regulation arm of the NYSE said that seven “specialist” stock trading firms had violated NYSE rules on multiple occasions over a four-year period from 2003 through 2006.

The seven firms are units of Goldman Sachs Group Inc., LaBranche & Co., Bear Stearns Cos., Bank of America Corp., Kellogg Specialist Group,...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.