The Securities and Exchange Commission has charged Scott Monson, the former general counsel of J.B. Oxford, for allowing customers of the brokerage firm to make late trades and market time mutual funds.

He is the fourth individual at J.B. Oxford to be so charged; earlier this year, three other former executives at the company and its clearing arm, National Clearing Corp., agreed to pay $2.2 million for allegedly permitting thousands of improper and illegal trades. The SEC first brought its charges against the company in 2004.

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