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.