Wash Trades financial definition of Wash Trades
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is the name given to the practice of banks creating fake trades to pay brokers through commissions.
At least 30 so-called wash trades
went undetected between September 2008 and August 2009, according to the FSA.
Nine of the wash trades
made between September 2008 and August 2009 generated more than 170,000 pounds fees to reward one broker for helping UBS.