Wash trades - legality?

Quote from Htrader:

Regardless of intent, the SEC deems that "any ficticious and non-bona fide transactions that do not result in a change of ownership are illegal."
Thanks! So much for that idea.

Martin
 
Quote from Hamlet:

The idea of using an account of a seperate owner?

The idea of using a wash trade to free up buying power in a brokerage account.

Martin
 
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