SEC, Broker Strike Deal Over Gas Options Inflation

Law360, New York (April 14, 2009, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has reached a partial deal imposing permanent anti-fraud injunctions against an ex-broker from Optionable Inc. accused of helping inflate natural gas options, which in turn forced the Bank of Montreal to overstate its first quarter 2007 earnings by 68 percent.

Judge George B. Daniels of the U.S. District Court for the Southern District of New York on Tuesday approved a consent order between former Optionable broker Scott Connor and the SEC, enjoining Connor from perpetrating or aiding and abetting future...
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