SEC Settles Late Trading Case With Ex-Trautman CFO

Law360, New York (February 15, 2008, 12:00 AM EST) -- A former top executive of brokerage Trautman Wasserman & Co. has agreed to pay $60,000 to settle allegations that he participated in a scheme to defraud mutual funds through late trading.

Former Chief Financial Officer Mark Barbera settled with the U.S. Securities and Exchange Commission on Feb. 14. In addition to imposing the $60,000 civil penalty, the SEC issued an order imposing remedial sanctions that prohibit Barbera from associating with any broker-dealers.

Barbera has also been barred from serving as an employee, officer, director or investment...
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