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