SEC
Whistleblower
Advocates

August 14, 2014

Linkbrokers Derivatives LLC

Financial Fraud

SANCTION AMOUNT: $14,000,000

Defendants: Linkbrokers Derivatives LLC

Settlement of charges that Respondent brokerage firm unlawfully took secret profits of more than $18 million from customers by adding hidden markups and markdowns to their trades, and secured additional illicit profits by stealing portions of customers’ trades when they entered limit orders. Brokers allegedly filled at limit but withheld that information, then purchased or sold portions of the positions back to the market depending on conditions, keeping the profit.

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