SEC "Front Running" Probe Deepens Merrill's Woes

Law360 (January 14, 2008, 12:00 AM EST) -- The U.S. Securities and Exchange Commission is looking into whether employees at Merrill Lynch & Co. illegally placed trades on securities for the firm's own account before filling orders for clients, The Wall Street Journal reported on Monday.

The probe covers the activities of several current and former employees at the financial services firm, unidentified sources familiar with the matter told the newspaper.

The probe is focusing on a practice known as “front running,” or trading securities for one's own account ahead of big client orders,...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.