Violation Tracker Individual Record

Company: 
Knight Securities L.P.
Current Parent Company: 
Virtu Financial
Penalty: 
$1,500,000
Year: 
2002
Date: 
January 7, 2002
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Secondary Offense: 
financial institution supervision failures
Violation Description: 

NASD Regulation, Inc., announced that Knight Securities L.P., had been censured, fined $700,000 and directed to pay $800,000 to clients of the firm. The sanctions were imposed for wide-ranging market making and trading violations, including failure to honor posted quotes and to accurately report trades to the NASD.

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: 
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Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.