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Citadel, Natixis, MUFG filed $ 6 million fines for incorrect statements to SEC

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Companies have acknowledged the fines and agreed to pay them as for Citadel the fine is $ 3.5 million, $ 1.25 million for Natixis and $ 1.4 million for MUFG.

The US Financial Supervision Commission has fine-tuned brokers after they could not provide complete and accurate information about the so- blue sheets accounts for more than 80 million trades for a few years. There were errors or inaccuracies in the reports for incorrect transaction time, missing stock codes, and transaction IDs. In the agreement that followed when paying fines, brokers have agreed to improve their reporting systems to avoid such errors in blue sheets.

This type of data is required by Finra and SEC from brokers at any time to prevent price manipulation and insider trading.

In a previous such case, the SEC had fined Citigroup with a record $ 7 million. Credit Suisse and Oz Management LP were also fined by the regulator for miscalculation reports for a total of $ 4.5 million.

Source: Finance Magnates


 Trader Martin Nikolov

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