December 11, 2018 / 12:11 AM / a year ago

Three broker-dealers settle SEC charges over incomplete data

Traders work at the Citadel Securities post on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 18, 2016. REUTERS/Brendan McDermid

(Reuters) - Broker-dealers Citadel Securities, Natixis Securities Americas LLC and MUFG Securities Americas Inc agreed to pay total penalties of more than $6 million to settle charges of providing incomplete trading data, the U.S. Securities and Exchange Commission (SEC) said on Monday.

Citadel were charged with submitting incorrect data for nearly 80 million trades while Natixis and MUFG were accused of submitting incorrect data for about 150,000 trades and 650,000 trades, respectively, the SEC said in a statement.

The SEC’s orders also found that Citadel, Natixis, and MUFG Securities Americas “willfully” violated the broker-dealer books and records and reporting provisions, it said, adding that the firms have admitted to the SEC findings.

The settlement relates to historic violations from May 2015 to March 2018 by MUFG Securities Americas of record keeping and reporting requirements, MUFG said.

“The firm has instituted new reporting controls and is fully committed to complying with regulatory requirements in every jurisdiction in which we operate,” an MUFG Securities Americas spokeswoman said in an emailed statement.

Citadel and Natixis did not respond to Reuters requests for comment outside regular business hours.

Reporting by Bhanu Pratap and Shubham Kalia in Bengaluru; Editing by Sandra Maler and Gopakumar Warrier

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