Merrill Lynch Traders Can’t Avoid Spoofing, Fraud Charges
Law360, 21 May 2020
The government’s June 2018 indictment says the traders’ scheme between June 2009 and October 2014 created the illusion of market movement by using large orders to inflate the price, with no intention of filling the orders, thus committing wire fraud, commodities fraud and conspiracy to commit commodities fraud.
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Merrill Lynch Admits Using Inaccurate Data for Short Sale Orders, Agrees to $11 Million Settlement
SEC, 1 June 2015
The Securities and Exchange Commission today charged two Merrill Lynch entities with using inaccurate data in the course of executing short sale orders. Merrill Lynch agreed to admit wrongdoing, pay nearly $11 million, and retain an independent compliance consultant in order to settle the charges.
Read full release.