SEC Seeks Final Judgment in Cherry-Picking Case Against Former Western Asset CIO

The SEC has filed for final judgment against Ken Leech, former co-Chief Investment Officer (CIO) of Western Asset Management, in a cherry-picking case. Cherry-p

us-equity · 2026-10-06

The SEC has filed for final judgment against Ken Leech, former co-Chief Investment Officer (CIO) of Western Asset Management, in a cherry-picking case. Cherry-picking is an unfair trading practice where favorable trades are allocated to specific accounts while unfavorable trades are assigned to others. This demonstrates the SEC's strong enforcement stance on regulatory compliance and ethical trading practices for registered investment advisers.

weltiq perspective: Strengthened regulation of trade allocation practices at registered investment advisers highlights the importance of implementing fair order allocation logic when designing automated trading systems.

Source: https://www.sec.gov/newsroom/press-releases/2026-103-sec-seeks-final-judgment-against-former-western-asset-co-cio-ken-leech-cherry-picking-case

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