SEC "Front Running" Probe Deepens Merrill's Woes

Law360, New York (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.

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.