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2008-08-15 — finalternatives.com
A former Bear Stearns employee has been barred by the New York Stock Exchange for helping hedge fund clients illicitly trade mutual funds.
...
NYSE Regulation also found that Greenberg, the junior trader and the mutual fund operation department of Bear’s clearing firm, Bear Stearns Securities Corp., worked together to late-trade mutual fund shares on behalf of a Texas hedge fund. Late-trading, unlike market-timing, is explicitly illegal.
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