Brokerage and founder penalized $1 million for ‘spoof trading’
Richard L. Cassin
October 16, 2015
The Securities and Exchange Commission charged a New York-based trading firm and one of its co-founders with using a manipulative trading strategy known as “spoofing.”
Briargate Trading LLP and co-founder Eric Oscher “orchestrated a scheme in which they placed sham orders — spoofs — to create the false appearance of interest in stocks and manipulate their prices,” the SEC said.… Continue Reading