trending Market Intelligence /marketintelligence/en/news-insights/trending/3RZFTvtYN_j0LFFBKZiKKw2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Former Lek Securities CEO banned from industry, firm fined $900,000

Street Talk Episode 56 - Latest bank MOE shows even the strong need scale to thrive

South State CenterState MOE Shows Even The Strong Need Scale To Thrive

Talking Bank Stocks, Playing The M&A Trade With Longtime Investor

Report: Kashkari Says Fed In Holding Pattern But Rate Cut Still Possible


Former Lek Securities CEO banned from industry, firm fined $900,000

The Financial Industry Regulatory Authority, NASDAQ Stock Market LLC, New York Stock Exchange LLC, Cboe Global Markets Inc. and some of their affiliated exchanges fined Lek Securities Corp. $900,000 and banned its former CEO, Samuel Lek, from the securities industry in all capacities.

According to the findings, Lek Securities provided market access to foreign traders who engaged in forms of manipulative trading on U.S. equity and options exchanges. FINRA said Samuel Lek and Lek Securities assisted this trading and failed to supervise it.

Moreover, Lek Securities also did not control the financial and regulatory risks of providing customers access to an exchange or alternative trading system, a violation of the Market Access Rule.

FINRA noted that Samuel Lek and Lek Securities disregarded several warnings about potential manipulative trading.

Samuel Lek and Lek Securities neither admitted nor denied the charges but consented to the findings. In addition to the $900,000 fine, the firm agreed to certain restrictions on foreign intraday trading, an independent monitor and undertakings.