this week’s poll

Was Providence right to sue Bank of America, the NYSE, high-frequency traders and others over alleged rigging of securities markets?

Posted 4/28/14

When the city of Providence filed suit in U.S. District Court in Manhattan last week against Bank of America, the New York Stock Exchange and others over the alleged rigging of the securities markets through the abuse of high-frequency trading, it was likely just the opening salvo in what could be a large indictment of the industry.

The Federal Bureau of Investigation, the U.S. attorney general and New York’s attorney general all have said they are investigating high-frequency traders for possible violations of trading regulations, including electronic “front-running.”

The complaint by Providence alleges that the defendants destroyed trust in the U.S. capital markets and diverted billions of dollars from private and public pension funds and individual retirement accounts.

Do you think this lawsuit is something the city should be involved in, since it is unclear yet that any laws were actually broken by the trading practices?

Calendar
PBN Hosted
Events

Two Great Programs...One Great Event. PBN's Annual Celebration of Growth and Innovation is now underway. 2014 applications are now available. Deadline August 1st.
  • Healthiest Employers
    Celebrate with the Healthiest Employers in RI on August 14th at the Providence M ...
  • 40 Under Forty
    Thank you to our sponsors and to all those who attended the 10th Anniversary of ...
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News
    Advertisement