A proprietary trading firm, Jump Trading, was fined $250,000 because a code change caused an algo trading program to erroneously execute orders that caused the firm to exceed its capital requirements.

Lime Brokerage was censured and fined $625,000 by FINRA and various exchanges for failure to maintain reasonable controls, procedures and other measures to remediate the violative conduct regarding its supervision of direct market access customer activity with respect to potential manipulative trading by its customers.

Eagle Market Makers was fined a total of $500,000 ($150,000 by CME Group and $350,000 by the CFTC) because their traders effectively conducted wash trades for orders that were entered in the pre-opening period.

Clear Street Markets settled for $60,000 with six securities exchanges for Market Access Rule violations, even though no actual trading violations were found, an unusual precedent. Instead, the BD was sanctioned because it relied on manual surveillance system to monitor markets, an action that was deemed insufficient.

Spencer Edwards, Inc. was fined $250,000 and ordered to pay restitution plus interest to customers for failing to establish and implement, as part of its AML compliance program, policies and procedures reasonably designed to detect and cause the reporting of suspicious activity in accepting and liquidating customers’ deposits of microcap securities.

Clearpool Execution Services was censured and fined $473,000 for failing to establish and maintain a system reasonably designed to comply with various rules around potential market manipulation (Market Access , Layering/Spoofing supervision, etc.)

FINRA fined Cantor Fitzgerald $2 Million for Regulation SHO violations and accompanying supervisory failures.

SMF Trading was expelled from FINRA whereby an owner of the BD also commonly owned and controlled two foreign unregistered proprietary trading firms that operated as trading funds and engaged in trading activity that included market manipulation and fraud, including layering and spoofing, on multiple markets.

FINRA fined Interactive Brokers LLC (Interactive) $5.5 million for Regulation SHO violations and supervisory failures spanning a period of at least three years.

Morgan Stanley was censured and fined $1,100,000 for market access rule deficiencies. The firm did not properly establish controls reasonably designed to prevent the entry of orders that exceeded pre-set credit thresholds on a customer basis, instead relying on an overall firm credit limit.

FINRA fined ICBC $5.3M for AML violations that included a failure to monitor and detect suspicious transactions. ICBC took on thousands of new introduced accounts (through an introducing broker) for which it cleared and settled the liquidation of more than 33 billion shares of penny stocks.

FINRA – along with the various exchanges – settled with Instinet for a total of $1.575 million for violations of the SEC Market Access rule of customers entering in orders electronically through its MPID.

FINRA fined Aegis Capital $550,000 for failing to have adequate supervisory and AML programs tailored to detect "red flags" or suspicious activity connected to its sale of low-priced securities.

Interactive Brokers was censured and fined $450,000 by BATS for failing to comply with the Market Access rule.