NEW YORK: An electronic trading platform owned by JPMorgan Chase & Co will pay a US$2.75 million civil fine to settle U.S. Securities and Exchange Commission charges it failed to register as a broker-dealer for more than a decade, the regulator said on Tuesday.
The enforcement action against Neovest Inc prompted a rare, 2, 000-word dissent from Hester Peirce, one of two Republicans on the five-person commission, who said it could thwart innovation and was "unbecoming of the world's strongest securities market."
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!