A Securities and Exchange Commission administrative law judge has dismissed charges against Scott G. Monson, the former general counsel for J.B. Oxford, for allegedly enabling late trading. The SEC had charged Monson with approving more than 12,000 late trades in 600 funds between June 2002 and September 2003.

Although the judge found that Monson contributed to late-trading violations, he couldn’t be held accountable because he didn’t know about the rules or “how mutual funds were priced,” and, therefore, didn’t intentionally break them.

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