Court Orders Former Prudential Securities Broker to Pay Penalties for Market Timing in Mutual Fund Shares

The SEC announced that, on March 12, 2013, a federal court in New York entered final judgment against Frederick J. O'Meally, the sole remaining defendant in a fraud action filed by the Commission on August 28, 2006. The SEC alleged that he used deceptive practices to evade blocks by mutual fund companies on his market timing trading.

Click here to learn more (links externally to SEC website).