Law360, New York (January 15, 2015, 12:37 PM EST) -- The U.S. Securities and Exchange Commission on Thursday hit dark pool operator UBS Securities LLC with a $14.4 million sanction to settle allegations around the marketing of an order type geared toward high-frequency traders and others that allegedly gave them an unfair advantage in violation of market rules.
The Swiss bank subsidiary did not admit or deny wrongdoing in the settlement, but agreed to pay the penalty, which included $12 million sanction that the SEC said was the largest ever against an alternative trading system, an off-exchange trading venue that includes dark pools. The SEC also said its investigation is continuing....
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!
Kirkland & Ellis LLP has redefined what it means to be the biggest of BigLaw — weighing in at 2,116 attorneys by year end 2018 and becoming the first firm since Law360 began tracking law firm head counts to top 2,000 U.S.-based attorneys.