Speed kills too - did ya know.The fine was largely imposed because Williams did not segregate the results of his personal trading from the accounts he was managing for others. That was evidently proven because the fine was imposed. However, against the background of his account making money while his clients simultaneously suffered significantly larger losses and without proper account segregation suggests that something didn't quite pass the smell test. They could not actually prove wrongdoing, but the numbers spoke for themselves. So much so, that the NFA was impelled to warn potential investors in their findings.
It's referred to as justifying their job, or in this case investigation.
Millions supposedly involved and then a parking ticket issued.