SEC Charges Citadel Securities for Violating Order Marking Requirements of Short Sale Regulations

SEC Charges Citadel Securities for Violating Order Marking Requirements of Short Sale Regulations

From sec.gov

The Securities and Exchange Commission today announced settled charges against broker-dealer Citadel Securities LLC for violating a provision of Regulation SHO, the regulatory framework designed to address abusive short selling practices, which requires broker-dealers to mark sale orders as long, short, or short exempt. These records are routinely used by regulators in policing prohibited short selling activity. To settle the SEC’s charges, Miami-based Citadel Securities agreed to pay a $7 million penalty. According to the SEC’s order, for a five-year period, it is estimated that Citadel Securities incorrectly ... (full story)

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