Latour Fined, Dodd Frank-Insurers, Dark Pools: Compliance
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A Tower Research Capital LLC unit agreed to pay a record $16 million penalty to settle U.S. regulatory claims that it didn’t hold enough capital to support its high-frequency trading.
Latour Trading LLC failed to maintain minimum levels of net capital on 19 of 24 reporting dates over a two-year period starting in 2010, the Securities and Exchange Commission said in a statement yesterday. Its capital shortfall ranged from $2 million to as much as $28 million, the SEC said.