It has been reported that the New York Stock Exchange is investigating three brokers who were formally employed by Merrill Lynch. The brokers were fired from the firm in 2003 over allegations that they helped a hedge fund trade improperly in mutual funds.
Reports name the three brokers as Christopher Chung, Kevin Brunnock and William Savino. They were all employees of UBS’ Paramus, previous to working for Merrill Lynch. They all had their licenses revoked by The New Jersey Bureau of Securities in March 2005 for their involvement in deceptive market timing activities.