A broker-dealer and an affiliated FinTech firm agreed to pay $12 million to settle SEC charges in connection with a dark pool operation.

According to the SEC Order, ITG Inc. and Alternet Securities Inc. (collectively, the "Respondents") made materially misleading statements and omissions to subscribers, improperly disclosed confidential information of subscribers, failed to establish adequate safeguards and policies to protect the confidential trading information of subscribers to an alternative trading system ("ATS") and failed to make adequate disclosures in its Form ATS filings.

In determining the settlement, the SEC took into consideration Respondents' remedial acts and cooperation with SEC staff.

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