Yesterday morning we noticed that the SEC posted on its site a press release: Alternative Trading System Agrees to Settle Charges That It Failed to Disclose Trading by an Affiliate. The SEC issued Cease and Desist proceedings against Pipeline, one of the largest global crossing dark pools. Today we were going to just summarize and highlight the key SEC findings; however nothing we could say would be more damning than the actual facts in the SEC’s release. The affair is sordid and shocking, considering the expertise and industry standing
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