Published on 17 Nov 2022 on Reuters via Yahoo Finance
By John McCrank
NEW YORK (Reuters) - U.S. exchanges and Wall Street's top cop on Thursday warned about a heightened threat of fraud mostly involving the initial public offerings of small companies, driven in part by a social media-driven pump-and-dump scheme called "pig butchering."
In a rare move, Nasdaq Inc, Intercontinental Exchange Inc's New York Stock Exchange and the Financial Industry Regulatory Authority (FINRA) published notices about manipulation and fraud tied to market debuts.