FINRA Targets High-Frequency Traders For Investigation
Law360, New York (July 19, 2013, 12:57 PM EDT) -- The Financial Industry Regulatory Authority on Thursday revealed it was investigating whether high-frequency trading firms have adequate controls over their algorithms and other automated trading technology, fulfilling a pledge set out in a priorities document earlier this year.
In a targeted examination letter posted to the self-regulatory organization’s website, FINRA said its Trading Examination Unit would conduct a review of controls and processes for the development and use of trading algorithms within high-frequency trading firms, as well as firms' controls over automated trading technology.
FINRA spokeswoman Nancy Condon told Law360 Friday that the letter has been sent to about 10 firms...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!