FINRA Aims To Teach A Lesson With Spoofing Report Cards
Law360, New York (January 5, 2016, 10:32 PM EST) -- Brokerage firms are set to feel more pressure to clamp down on manipulative trading in the coming months when the Financial Industry Regulatory Authority for the first time grades firms on how much spoofing and other phony trades they're letting through on their systems.
The coming of so-called report cards on manipulative trading was announced Tuesday in FINRA's annual regulatory and examinations priorities letter. The Wall Street-funded regulator gave few details about what information the reports will contain, beyond that they will identify when FINRA has detected potentially manipulative activity on the firm's trading systems.
Experts said it is fairly clear...
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