SEC Fine BD on Blue Sheet Data

On Sep. 13, SEC fined B/D $2.75mn for deficient blue sheet data.

  • Convergex Execution Solutions charged for filing incomplete trading information.

Alleged Violations

  • Due to coding errors, many submissions were missing data, or had deficiencies.
  • Included customer information, order execution time, transaction type identifier.
  • In 2012-16, 29% of submissions had deficient customer identifying information.
  • Follows FINRA 2012 sanctioning Convergex for deficient blue sheet submissions.
  • Still did not take steps to ensure, blue sheet submissions to SEC were complete.


  • Convergex admitted findings and to be censured and pay a $2.75 million penalty.