From reading the press release I did not understand what was illegal. Could someone clarify what law they violated? (not trying to defend the firm-I'm sure what they did was really bad, I legitimately do not understand the logistics of trading)
So the penalty was $1 million. I wonder how much money they made and what percentage that was.<p>It seems to me, that unless the penalty is _more_ than what you made, then it doesn't do anything to discourage these practices.
For manipulating the closing price of stocks ("marking the close") for a 6 month period in 2009,they got a $1 million dollar fine and didn't admit to any wrongdoing.....