Brokers Seek Early Showdown With SEC On 'Layering'

By Jack Newsham (April 10, 2017, 7:01 PM EDT) -- Lek Securities Corp. and a client network that allegedly made $28 million by "layering" phony trades to mimic market forces fought Friday to thwart an asset freeze, going to the heart of the U.S. Securities and Exchange Commission's case to insist the conduct is not illegal....

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