Violation Tracker Individual Record

Company: 
Knight Securities, L.P.
Current Parent Company: 
Virtu Financial
Penalty: 
$66,500,000
Year: 
2004
Date: 
December 16, 2004
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Violation Description: 

Knight Securities, L.P. agreed to pay $66.5 to settle SEC allegations that it defrauded its institutional customers by extracting excessive profits out of its customers' orders while failing to meet the firm's duty to provide best execution to the institutions that placed those orders.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Securities and Exchange Commission
Civil or Criminal Case: 
civil
HQ Country of Parent: 
USA
HQ State of Parent: 
New York
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
financial services
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.