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Violation Tracker Individual Record

Company: Legacy Trading Co., LLC
Penalty: $1,007,035
Year: 2009
Date: August 5, 2009
Offense Group: financial offenses
Primary Offense: investor protection violation
Secondary Offense: financial institution supervision failures
Violation Description: A Financial Industry Regulatory Authority (FINRA) hearing panel has expelled Legacy Trading Co., LLC of Edmond, OK, and permanently barred the firm's CEO and owner from the securities industry for a wide range of misconduct - including violations of short selling rules, failure to maintain required books and records, and for providing false information and refusing to provide testimony to FINRA. The hearing panel also fined Legacy and the CEO more than $1 million, finding that they made almost $900,000 in profits from the illegal short sales.
Level of Government: federal
Action Type: agency action
Agency: Financial Industry Regulatory Authority
Civil or Criminal Case: civil
Source of Data: (click here)
Archived Source: (click here)
Notes: FINRA is a securities industry self-regulatory body authorized by the federal government.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.