January 12, 2015
Posted January 28, 2016
Two exchanges formerly owned by Direct Edge Holdings and since acquired by BATS Global Markets (the EDGA Exchange and EDGX Exchange) have agreed to pay a $14M penalty to settle charges that their rules failed to accurately describe the order types being used on the exchanges. The penalty is the SEC’s largest against a national securities exchange, and the case is the SEC’s first principally focusing on stock exchange order types. SEC
Tagged in: Misrepresentations, Regulatory Violations, Securities Fraud,