Violation Tracker Individual Record
Company:
Knight Securities, L.P.
Current Parent Company:
Virtu Financial
Penalty:
$12,500,000
Year:
2004
Date:
December 16, 2004
Offense Group:
financial offenses
Primary Offense:
investor protection violation
Secondary Offense:
financial institution supervision failures
Violation Description:
NASD found that Knight's former leading institutional sales trader priced trades in a manner contrary to customers' expectations and industry custom, using deceptive trading practices to disguise his pricing and the amount of Knight's profits. The NASD fine was part of a larger settlement involving the SEC; see https://violationtracker.goodjobsfirst.org/violation-tracker/-knight-sec...
Level of Government:
federal
Action Type:
agency action
Agency:
Financial Industry Regulatory Authority
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
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.
