SEC Denied Early Win In Ex-Cantor Rep's Fee-Splitting Case

Law360 (March 2, 2021, 4:24 PM EST) -- A Manhattan federal judge declined to grant the U.S. Securities and Exchange Commission summary judgment in its suit against a former Cantor Fitzgerald & Co. broker, saying there remained disputed questions about the commission-splitting arrangement at the heart of the case.

The SEC has yet to prove its case that a former Cantor Fitzgerald broker collected commission compensation he didn't properly document, a Manhattan federal judge ruled Monday.

In her opinion and order, U.S. District Judge Katherine Polk Failla found that the record in the case showed that Cantor Fitzgerald violated the SEC's so-called Compensation Record Rule via compensation received in...

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