{"id":4533,"date":"2007-12-05T20:40:10","date_gmt":"2007-12-05T20:40:10","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2007\/12\/rafferty_capital_markets_to_pa"},"modified":"2022-05-19T13:31:42","modified_gmt":"2022-05-19T18:31:42","slug":"rafferty-capital-markets-to-pa","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/rafferty-capital-markets-to-pa\/","title":{"rendered":"Rafferty Capital Markets to Pay Over $400,000 in Sanctions Over Alleged Market Timing Trading Practices"},"content":{"rendered":"

Rafferty Capital Markets LLC says it will pay over $400,000 in sanctions and abide by a 90-day ban preventing it from opening mutual fund brokerage accounts for customers. The penalties resolve FINRA charges that Rafferty Capital engaged in improper market timing trading practices. FINRA also charged Rafferty Capital with getting rid of e-mails pertaining to the transactions in question and failing to respond to warnings of improper timing practices.<\/p>\n

According to FINRA, Rafferty Capital helped six hedge fund customers circumvent market timing restrictions without detection from January 2001 to August 2003. The firm i s accused of using various broker branch codes to engage in market timing.<\/p>\n

The firm also allegedly allowed two hedge fund clients to continue market timing from April 2001 through April 2002 and circumvented efforts by mutual fund companies to prevent this type of trading. This alleged misconduct resulted in 118 more mutual fund exchanges. The $59,605 profit was made at the expense of other investors.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Rafferty Capital Markets LLC says it will pay over $400,000 in sanctions and abide by a 90-day ban preventing it from opening mutual fund brokerage accounts for customers. The penalties resolve FINRA charges that Rafferty Capital engaged in improper market timing trading practices. FINRA also charged Rafferty Capital with getting rid of e-mails pertaining to […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3749],"tags":[],"class_list":["post-4533","post","type-post","status-publish","format-standard","hentry","category-market-timing"],"yoast_head":"\nRafferty Capital Markets to Pay Over $400,000 in Sanctions Over Alleged Market Timing Trading Practices — Investor Lawyers Blog — December 5, 2007<\/title>\n<meta name=\"description\" content=\"Rafferty Capital Markets LLC says it will pay over $400,000 in sanctions and abide by a 90-day ban preventing it from opening mutual fund brokerage — December 5, 2007\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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