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NASD Hammers Controversial Day Trader

Traders Magazine, June 2001

Gregory Bresiger

Harvey Houtkin, a day trading honcho, has been censured and fined. His firm, All-Tech in Montvale, New Jersey, along with other executives were fined about $380,000 for day trading and advertising violations, according to NASD Regulation.

Houtkin and his firm, NASD officials said in a release, made misleading statements in a number of print and radio advertisements. Houtkin, an early proponent of day trading, was once knicknamed the "Godfather of SOES" because of its negative connotations with alleged abuses of day trading on Nasdaq.

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