New Jersey bars ex-Merrill brokers for market timing
Tuesday, February 3, 2009 : PermalinkForbes – New Jersey’s Bureau of Securities permanently barred three former Merrill Lynch brokers accused of helping a hedge fund make tens of thousands of improper trades in mutual funds.
Christopher Chung, Kevin Brunnock and William Savino will collectively pay $1.15 million in civil penalties, under terms of an administrative consent order, according to a statement from New Jersey’s attorney-general.
Tags: attorney general, civil-penalties, consent order, forbes, merrill-lynch, mutual funds, savino, tens of thousands, trades
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