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Second Circuit — Market Timing: SEC v. O’Meally

U.S. Court of Appeals for the Second Circuit Market Timing Negligence — Inconsistent Application of Mutual Fund Policies SEC v. O’Meally 13-1116 Judges Jacobs, Calabresi and Pooler Background: The defendant, a broker, traded on his clients’ behalf using a mutual-fund trading strategy known as market timing. Market timing is legal, but the deceptive performance of it is not. The SEC alleged ...