Interestingagreed to a two-year trading ban and $25,000 in costs ordered against a man accused of executing prohibited trades among various discount brokerage accounts he controlled for his family.In the approved settlement, he admitted to carrying out prohibited match trades, wash trades, and facilitation trades (which aim to enable the match trading and wash trading) among the 10 accounts he controlled (three each for himself and his wife and four among his children).
It says he was aware that this sort of trading was prohibited, and that he was warned several times by various discount brokers, and even had his accounts forcibly closed by one firm.