News Formal

SEC slaps investment firm Citadel with $7 million fine to settle short selling charges

  • 📰 NBCDFW
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 63%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

Citadel Securities identified certain short sales as long sales, and vice versa, during a 5-year period, the SEC said.

The source of the inaccuracies was a coding error in Citadel's automated trading system during this time frame, the SEC found.

A Citadel spokesperson told CNBC that the matter"had no impact on the quality of our client execution." "While updating our systems to accommodate certain client requests, we made a coding change that inadvertently affected a de minimis percentage of our order markings," the spokesperson added."We detected the issue and promptly fixed it more than three years ago."

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 288. in SG

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

SEC Announces Further Enforcement Actions Against Crypto IndustryAt a recent event, the SEC announced plans to go after even more crypto platforms, regardless of their size.
Source: Crypto_Potato - 🏆 568. / 51 Read more »