August 28, 2017
A New York federal judge has refused to let broker-dealer Lek Securities Corp. and its CEO off the hook from a U.S. Securities and Exchange Commission suit that alleges the company aided a Ukrainian former client's efforts to influence securities prices using techniques like the "layering" of phony trades to mimic market forces.
August 01, 2017
A New York federal judge on Monday OK'd the U.S. Securities and Exchange Commission's request for a $21 million asset freeze against a company accused of helping foreign traders manipulate U.S. markets with banned techniques, noting that the company and its principals no longer opposed the freeze.
July 24, 2017
The U.S. Securities and Exchange Commission urged a New York federal court Friday not to let broker-dealer Lek Securities Corp. and its CEO off the hook from the agency's suit that alleges the company aided a Ukrainian former client's efforts to influence securities prices using techniques like the "layering" of phony trades to mimic market forces.
July 07, 2017
The U.S. Securities and Exchange Commission asked a New York federal judge on Friday to rule that a trading strategy known as "layering" used by an offshore investment firm amounts to illegal market manipulation and urged him to keep $5.4 million of the company's funds frozen.
June 05, 2017
A broker-dealer accused of facilitated an ex-customer's $28 million securities fraud argued in New York federal court Friday that the U.S. Securities and Exchange Commission's new trading scheme theory known as "layering" does not actually constitute market manipulation.
April 10, 2017
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.