Scottrade Latest To Admit Wrongdoing In $2.5M SEC Pact

Law360, New York (January 29, 2014, 3:34 PM EST) -- Scottrade Inc. will pay a $2.5 million fine after admitting it failed to provide the U.S. Securities and Exchange Commission with accurate reports on suspicious trading activity, the agency said Wednesday, marking its fourth such admission of wrongdoing following a June change in settlement policy.

The online brokerage service admitted that it violated federal securities laws by failing to provide the SEC with accurate “blue sheets,” which are reports detailing the trading activity of a firm and its customers, between March 2006 and April 2012. An...
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