The Financial Industry Regulatory Authority, along with the New York Stock Exchange; NYSE Arca; NYSE MKT; the four Bats Exchanges, Bats BZX, Bats BYX, Bats EDGA, and Bats EDGX; Nasdaq; Nasdaq BX; and the International Securities Exchange, today announced that they have commenced disciplinary proceedings against Lek Securities Corporation and its Chief Executive Officer, Samuel F. Lek, for aiding and abetting manipulative trading by one of its customers. Together, the complaints allege that Lek Securities and Lek aided and abetted extensive manipulative trading in a customer account known as “Avalon” from October 2010 through June 2015, which impacted both equities and options markets. Lek Securities is also charged with aiding and abetting Avalon’s operation of an unregistered broker-dealer.
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