NYSE Specialist Fined

[frezza]

It's good to see the NYSE cracking down on specialists. The fine amount seems kind of insignificant though.

Article: http://www.traderbulletin.com/discuss/msgReader$507?mode=day

 

[C Robinson]

i see that it is a FORMER specialist....i wonder what stocks this guy handled.

 

[eastside]

A few others also got slapped on the wrist. :eek:

http://www.nyse.com/press/press.html

 

[thesage]

$25,000 to $75,000 in fines for front running customer orders for 3 years and a specialist who traded with the floor versus his own account ignoring DOT orders. What´s new. A guy caught dealing gets 3-10 years in jail. These guys get a suspension of 1 month and a pittance of a fine. Incredible. Someone has to shut this down already.

 

[GATrader]

25K is what they can make in a couple of trades with the prop info they have. Imagine cuffing a 3000 lot order 10 cents everyday for x months. I can't believe it. A lot of guys in coffee pits got caught by CFTC, suspended for 6 months bail money in the six figures. Now that is an effective fine vs. the NYSE. The world puts its stock on us !!