Violation Tracker Individual Record

Company: 
Instinet, LLC and INET ATS, Inc.
Penalty: 
$1,475,000
Year: 
2005
Date: 
October 18, 2005
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Secondary Offense: 
financial institution supervision failures
Violation Description: 

NASD ordered Instinet, LLC and INET ATS, Inc. to pay $1.475 million for rule violations relating to publication of inaccurate reports on order execution quality, backing away from the firm's posted quotes, failure to report orders, improper last sale or trade reporting, supervision and other areas.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Financial Industry Regulatory Authority
Civil or Criminal Case: 
civil
Source of Data: 

NASD Fines Instinet and INET ATS $1,475,000 for Inaccurate Execution Quality Reports, Inadequate Supervision and Other Violations, PR Newswire, October 18, 2005 (via Nexis).

Notes: 

FINRA is a securities industry self-regulatory body authorized by the federal government. This case was handled by its predecessor, the National Association of Securities Dealers (NASD).

Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.