NASD has filed a complaint against A.B. Watley Direct, Inc. and its former representatives, Robert Conway and Kenneth Ng. NASD charged them with facilitating late trading and improper market timing of mutual funds on behalf of hedge fund clients.

In addition, ABW Direct President Robert Malin and Executive Vice President Linus Nwaigwe were charged with lapses in supervision. ABW Direct is a subsidiary of A.B. Watley Direct.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.