The chairman and CEO of Empire Financial Holding has resigned amid a continuing SEC probe into mutual fund trading practices at the brokerage firm, Reuters reports. Kevin Gagne, the executive, had been on unpaid leave of absence since the probe began late last month. Other executives who had been involved in trading mutual fund shares for institutional clients have either resigned or been fired, the firm said.

Empire Financial President Donald Wojnowski, Jr. has been elected to the board, in order that he can serve in Gagne’s position.

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