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False Moves Get Trading Firm Expelled, CEO Barred

July 31, 2012
Tom Steinert-Threlkeld

FINRA said it expelled a Canadian firm and barred its chief executive from further activity in the United States, after funneling large amounts of overseas day trading through its systems to U.S. markets. The firm is accused of failing to prevent ‘layering,’ where large amounts of false orders are used to move the price of a stock.

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