Market Manipulation. Search

Marking the close enforcement actions

This library records 15 enforcement actions tagged marking the close. Marking the close is trading in the final minutes of a session specifically to move the closing price, which is the price that sets portfolio valuations, margin calls, index levels and derivative settlements.

Actions are listed newest first. Each row links to a case page carrying the regulator's own release and, where one was published, the complaint. For how this technique works and what statute it engages, read the marking the close technique page.

Actions
15
Total penalties
$2m
Median penalty
$160k
Largest
$833k
Criminal parallel
20%
Action Agency Filed Penalty Status
SEC v. Canaccord Genuity LLC (marking the close, 2026) SEC 2026-03-06 — settled
ASIC v. COFCO International Australia Pty Ltd (marking the close, 2024) ASIC 2024-07-24 — unknown
ASIC v. Interactive Brokers (marking the close, 2023) ASIC 2023-09-20 $833k unknown
SEC v. Ahmad Haris Tajyar and Eric Leo Marsoubian (marking the close, 2021) SEC 2021-08-13 $220k settled
SEC v. Andrew J. Kandelapas (marking the close, 2019) SEC 2019-06-21 — judgment
SEC v. Lai Guanglin (Alan) (marking the close, 2018) SEC 2018-12-10 $400k settled
ASIC v. Interactive Brokers LLC (marking the close, 2017) ASIC 2017-12-14 $250k unknown
SEC v. Richard P. Cedrone, Steven R. Ferris and George R. Thoreson (marking the close, 2017) SEC 2017-09-05 $75k judgment
SEC v. Wanger and Eric David Wanger Investment Management, Inc. (marking the close, 2017) SEC 2017-07-10 $75k dismissed
SEC v. Adesh Kumar Tyagi (marking the close, 2017) SEC 2017-06-01 — unknown
SEC v. Markusen and others (marking the close, 2016) SEC 2016-11-09 — judgment
SEC v. Michael J. Ling (marking the close, 2015) SEC 2015-12-23 $100k judgment
SEC v. James Goodland and Securus Wealth Management, LLC (marking the close, 2015) SEC 2015-09-30 $30k settled
SEC v. Donald L. Koch and Koch Asset Management, LLC (marking the close, 2015) SEC 2015-07-20 — appealed
SEC v. Wedbush Securities Inc. Jeffrey Bell Christina Fillhart (layering, 2014) SEC 2014-11-20 — settled