Wall Street Threatens to Sue SEC if New Proposals Pass
Wall Street institutions are threatening to sue the SEC if proposals to change retail execution and transparency rules are passed.
Citadel Said in 2004 Payment for Order Flow Creates Conflict
Citadel pushed back on banning PFOF last year but said in 2004 payment for order flow "creates conflicts of interest and should be banned."
Virtu is Suing the SEC Over Records Request
Virtu Financial Inc is suing the SEC, alleging on Tuesday its primary regulator had not responded to a public records request. Virtu, a market maker with a large equities business, said it submitted a Freedom of Information Act (FOIA) request in June to…
Citadel Paid SEC $22.6 Million to Settle Charges of Misleading Conduct
In 2017, Citadel paid the SEC $22.6 million to settle charges that it misled customers about the way it priced trades. The SEC found that between 2007 and 2010, Citadel used two algorithms to execute stock trades on customers’ behalf that gave investors…
Citadel Pushes Back on Possible SEC PFOF Ban
The SEC is addressing the possibility of banning PFOF (payment for order flow). Citadel and other institutions are speaking out. Gary Gensler said there may be a conflict of interest for brokers and that too much power is concentrated in a handful of…
