United States:
Broker-Dealer Settles FINRA Charges For Failure To Properly Handle Limit Orders
21 November 2019
Cadwalader, Wickersham & Taft LLP
To print this article, all you need is to be registered or login on Mondaq.com.
A broker-dealer settled FINRA charges that it failed to
immediately execute, route or display customer limit orders in OTC
securities that would lock or cross the market, and thus failed to
execute the limit order against a market maker's quote.
To settle the charges, the broker-dealer agreed to a (i) censure
and (ii) fine of $40,000.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
POPULAR ARTICLES ON: Corporate/Commercial Law from United States
Corporate Transparency Act Update
Shulman Rogers
With the arrival of spring and the first set of Corporate Transparency Act (CTA) filing deadlines behind us, it is a good time for an update on lessons learned from the initial filings.
Compliance Isn't The Only 'AI Washing' Risk
Bracewell
Companies are rapidly adopting artificial intelligence technologies, and both regulators and private plaintiffs have set their sights on "AI washing," where businesses tout AI capabilities that do not exist.