Violation Tracker Individual Record

Newedge USA, LLC
July 11, 2013
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Secondary Offense: 
financial institution supervision failures
Violation Description: 

The Financial Industry Regulatory Authority (FINRA), along with BATS Exchange, Inc., New York Stock Exchange LLC, NYSE Arca, Inc. and The NASDAQ Stock Market LLC, censured and fined Newedge USA, LLC of Chicago $9.5 million for failing to supervise trading by clients that directly accessed U.S. equities markets through Newedge's order routing platform and/or internet service providers (known as direct market access, or DMA) or routed orders directly to market centers (known as sponsored access, or SA). In addition, Newedge also violated Regulation SHO (Reg SHO) and SEC Emergency Orders concerning short sales, and failed to obtain and retain books and records.

Level of Government: 
Action Type: 
agency action
Financial Industry Regulatory Authority
Civil or Criminal Case: 

FINRA is a securities industry self-regulatory body authorized by the federal government.

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.