Market-making giant Virtu Financial Inc. will pay the SEC more than $2 million to resolve an enforcement action over policy lapses that allegedly gave employees access to confidential information behind customers’ trades.
The Biden-era Securities and Exchange Commission action had alleged that “virtually all employees” at subsidiary Virtu Americas LLC could access the trade data, which included customer names, securities, execution prices, and volume.
Judge John G. Koeltl in the US District Court for the Southern District of New York on Tuesday accepted a proposed judgment from the SEC and Virtu, including the $2.5 million civil penalty.
Source: Virtu to Pay $2.5 Million in SEC’s Client Trade Data Case