10/10/2002 10:47
-Stockbrokers fined for price manipulation
SEC has imposed huge fines to three brokerage firms for their involvement in price manipulation. Specifically, according to Stockwatch information, Spidertrade is requested to pay the amount of CYP 30 thousand, Lefkonoiko brokerage firm the amount of CYP 20 thousand, C.N.H Hadjigavriel CYP 5 thousand and finally stockbroker Kostas Hadjigavriel the amount of CYP 70 thousand.
SEC is expected to issue an announcement this afternoon, explaining the reasons for its decision.
It is reminded that on August 2001, SEC proceeded with a spot check to the aforementioned brokerage firms and confirmed the phenomenon of price manipulation. The findings of the investigation were announced to the specific stockbrokers last September.
Stockwatch will publish SEC’s announcement, as soon as this is sent to our offices.
SEC has imposed huge fines to three brokerage firms for their involvement in price manipulation. Specifically, according to Stockwatch information, Spidertrade is requested to pay the amount of CYP 30 thousand, Lefkonoiko brokerage firm the amount of CYP 20 thousand, C.N.H Hadjigavriel CYP 5 thousand and finally stockbroker Kostas Hadjigavriel the amount of CYP 70 thousand.
SEC is expected to issue an announcement this afternoon, explaining the reasons for its decision.
It is reminded that on August 2001, SEC proceeded with a spot check to the aforementioned brokerage firms and confirmed the phenomenon of price manipulation. The findings of the investigation were announced to the specific stockbrokers last September.
Stockwatch will publish SEC’s announcement, as soon as this is sent to our offices.
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