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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. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
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.
2024-10-22T21:18:00Z By Adrianne Appel
Precision Toxicology has agreed to pay $27 million to settle allegations first brought by whistleblowers in three cases, that the company billed the federal government for unnecessary drug tests and paid kickbacks to doctors, the Department of Justice (DOJ) said.
2024-10-22T16:08:00Z By Aaron Nicodemus
Fund management company WisdomTree will pay $4 million to settle allegations by the Securities and Exchange Commission that it improperly invested in fossil fuel and tobacco companies in environmental, social and governance (ESG) funds despite promising to avoid them.
2024-10-18T18:10:00Z By Adrianne Appel
A Vietnamese alcohol company has agreed to pay $860,000 to settle allegations by the Office of Foreign Assets Control (OFAC) that its business with North Korea involved U.S. financial institutions.
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