FINRA Slaps $3.25M Fine On Deutsche Bank Securities for ATS Violations
Posted: Thu Dec 15, 2016 4:45 pm
The Financial Industry Regulatory Authority (FINRA), the largest independent regulatory authority in the US, has slapped a $3.25 million fine against Deutsche Bank Securities Inc., after the group failed to give uniform information to clients of its Alternative Trading System (ATS), per a FINRA filing.
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An ATS constitutes a trading venue that executes securities trades on behalf of broker-dealers. However, it is in accordance with the Securities and Exchange Commission (SEC) Regulation that ATS operators provide, “identical access to all services and features”. For its part, ... (read more)