NYSE specialists hit by $240m trading penalty

SEC mulls civil action against NYSE over securities law enforcement

Wednesday 31 March 2004 at 16:00

US regulators have fined and charged five specialist trading firms for trading violations which cost investors $154m (€126m).

The US Securities and Exchange Commission together with the New York Stock Exchange have imposed financial penalties of $240m on the five specialist firms. The firms will pay $88m in fines and return $154m to investors.