Article: Merrill Lynch faces sanctions for extreme scalping role in Korea

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Merrill Lynch faces sanctions for extreme scalping role in Korea

Yoo Joon-ho, Lee Eun-joo

Pulse, 18 June 2019

U.S. brokerage Bank of America Merrill Lynch is facing possible disciplinary action from South Korea’s stock exchange authority for its alleged role in market-disrupting high-frequency trading on behalf of U.S. Citadel Securities.

Korea Exchange, the country’s stock exchange operator, said on Tuesday that it will convene a market monitoring committee on Wednesday to determine the level of punishment against Merrill Lynch. The action may include warnings, stern warnings and financial penalties.

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