Former rep gets four-year trading ban for high closing

first_img Mouth mechanic turned market manipulator Keywords Enforcement,  Market manipulationCompanies Raymond James Ltd., Alberta Securities Commission Related news “The practice of repeatedly entering high bids late in the trading day, leading to high close trades or uptick bid prices, is a manipulative strategy,” the settlement noted.“The placing and the timing of such bids are driven not by bona fide trading motives, but a desire to influence other traders by creating the impression a stock did well in trading during the day,” it adds.Thor agreed to a four-year trading ban, a $30,000 fine and to pay $10,000 in costs to settle the case.According to the settlement with the ASC, Thor “repeatedly entered bids on behalf of a client for shares late in the trading day that were higher than the last trade of the day, resulting in at least 25 high close transactions.”“Thor admitted that he ought to have known that the high close purchases may result in, or contribute to, a false or misleading appearance of trading activity and an artificial price for a security,” the regulator said.The settlement noted that Thor had not been previously sanctioned, and cooperated with the ASC’s investigation. Share this article and your comments with peers on social media PwC alleges deleted emails, unusual transactions in Bridging Finance case James Langton BFI investors plead for firm’s sale High angle view of mallet eyeglasses legal book in courtroom andreypopov/123RF Regulators in Alberta have sanctioned a former rep for “high closing” trades that he placed on behalf of a client.The Alberta Securities Commission (ASC) has announced a settlement with Henry Ian Thor, a former rep at Raymond James Ltd. in Edmonton, who admitted to violating securities rules by repeatedly making trades in a venture stock, BCM Resources Corp., that resulted in high closes. Facebook LinkedIn Twitterlast_img read more

Charges brought after South Bend man’s death at Indiana prison

first_img By Associated Press – August 31, 2019 0 340 IndianaLocalNews Charges brought after South Bend man’s death at Indiana prison Facebook WhatsApp Twitter Google+ WhatsApp Pinterest (Photo supplied) BUNKER HILL, Ind. (AP) — Authorities in Indiana say charges have been brought in the separate slayings of two inmates at the Miami Correctional Facility.Indiana State Police announced Thursday that 53-year-old inmate Phillip Sadler has been charged with murder in the June 10 smothering death of 70-year-old Lannie Morgan of South Bend. A not guilty plea has been entered for Sadler and he requested a lawyer.Also Thursday, police announced 42-year-old Michael Parrish is charged with murder in the May 19 strangulation death of his cellmate, 56-year-old Richard Carrell. A not guilty plea has been entered for Parrish and he requested a lawyer.Court records Friday didn’t list the name of a public defender in either case.The Miami Correctional Facility is located near Bunker Hill, about 60 miles (97 kilometers) north of Indianapolis. Google+ Twitter Pinterest Facebook Previous articleGovernor Holcomb ‘disgusted’ by texts official sent internNext articleFlight attendant agrees to undergo alcohol abuse counseling Associated PressNews from the Associated Press and its network of reporters and publications.last_img read more