“The National Association of Securities Dealers (NASD) handed down a $4.3 million award to a former Wachovia Securities broker who was fired in 2003 amid a firestorm of market-timing allegations. An arbitration panel accepted Frederick O’Meally’s claims that he had been wrongfully fired and that his former employer still owed him compensation from a company savings plan and from a retention bonus, according to the New York Law Journal. O’Meally had engaged in market timing on behalf of hedge fund clients, but argued these practices were reviewed and approved by in-house counsel at Prudential Securities – and later at Wachovia after the two companies merged in 2003.
Wachovia Securities Broker Awarded $4.3 Million By NASD Over Wrongful Dismissal For Market Timing
"The National Association of Securities Dealers (NASD) handed down a $4.3 million award to a former Wachovia Securities broker who was fired in 2003 amid a firestorm of market timing allegations. An arbitration panel accepted Frederick O'Meally's claims that he
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