Jin Yi Lim, a former Barclays general securities representative, has agreed to a fine as a part of a settlement with the Financial Industry Regulatory Authority (FINRA).
From February 2022 through June 2022, Lim, while associated with Barclays, engaged in 32 instances of “spoofing,” a type of fraudulent trading, in U.S. Treasury securities.
Therefore, Lim violated FINRA Rule 2010 by acting in contravention of Section 17(a)(3) of the Securities Act of 1933 and is suspended 12 months and fined $17,500.
Lim, while associated with Barclays and a USD Rates Desk trader, traded U.S. Treasury securities to facilitate customer order flow, either after receiving an order from a customer, or to build inventory in expectation of such orders. Lim maintained a larger inventory and traded more in shorter-maturity U.S. Treasury securities, including 5- and 10-year Notes, than in longer-maturity securities.
From February 2022…
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