New York-based brokerage firm Liquidnet has agreed to pay a $2m settlement fee to the US Securities and Exchange Commission (SEC) over shortcomings in how the dark-pool owner guarded private data about firms using its platform.
The investigations, which date back to 2011, found that the firm improperly allowed its Equity Capital Markets (ECM) desk, a unit outside of its dark pool operation, to access confidential trading data.
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