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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2023-09-22T18:24:00
Miami-based broker-dealer Citadel Securities was fined $7 million as part of a settlement with the Securities and Exchange Commission (SEC) addressing mismarked short and long sales caused by a coding error in the firm’s automated trading system.
Citadel violated Regulation SHO by providing inaccurate data to regulators, including the SEC, over a five-year period, the agency said in a press release Friday. The settlement requires Citadel to provide written certification regarding remediation of the coding error and a review of the firm’s computer programming and coding logic.
From September 2015 through September 2020, Citadel inadvertently marked certain short sale orders as long sales and vice versa while handling orders on behalf of its broker-dealer clients, resulting in an estimated millions of sell orders being mismarked, the SEC alleged in its order.
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News and analysis for the well-informed compliance or audit exec.
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Our lowest price ($1 per day) for one year.
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2023-08-17T18:26:00Z By Kyle Brasseur
Goldman Sachs agreed to pay $425,000 as part of a settlement with the Financial Industry Regulatory Authority addressing allegations of reporting and supervision violations regarding more than 1 million over-the-counter options positions.
2023-04-05T17:36:00Z By Kyle Brasseur
Goldman Sachs was fined $3 million by the Financial Industry Regulatory Authority for mismarking nearly 60 million short sell orders as long and related supervision failures.
2022-06-15T19:54:00Z By Jeff Dale
Weiss Asset Management reached a $6.9 million settlement with the Securities and Exchange Commission after it self-reported alleged short selling violations.
2024-07-26T19:18:00Z By Jeff Dale
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
2024-07-26T15:51:00Z By Aaron Nicodemus
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
2024-07-26T13:36:00Z By Adrianne Appel
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
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