SEC Charges Two Brokers for Defrauding Multiple Traders

[kreslik.news]

With an ever-increasing number of cases coming to the attention of the Securities and Exchange Commission (SEC), Finance Magnates today learned that the US regulator has once again clamped down on unlawful activities, charging two New York-based brokers with fraudulently using an in-and-out trading strategy that was unsuitable for clients in order to generate hefty commissions for themselves.

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According to the SEC, Gregory Dean and Donald Fowler did not carry out any reasonable diligence to determine whether their investment strategy involving ... (read more)