The Securities and Exchange Commission this week filed civil charges against the Beverly Hills, Calif.-based broker/dealer National Clearing Corporation. (NCC) and its parent company, JB Oxford Holdings, Inc., for allowing customers to engage in late trading and improper market-timing activities.

According to the SEC complaint filed in the U.S. District Court of Los Angeles, each of the defendants facilitated thousands of market-timing and late trades in more than 600 mutual funds between June 2002 and Sept. 2003.

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