Icap-owned broker charged with profiting $18m from mark-ups on client trades
US regulator the Securities and Exchange Commission (SEC)
has charged New York-based broker Linkbrokers Derivatives,
majority owned by interdealer broker ICAP, with pocketing $18m
in profit by unlawfully adding hidden mark-ups and markdowns to
The firm, which handles for institutional clients
large-ticket, over-the-counter or exchange-traded equity,
American Depositary Receipt and derivative transactions, has
agreed to pay $14m to settle the SEC’s charges
without admitting or denying the findings. It ceased acting as
a broker-dealer in April 2013 and will withdraw its
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