TradeStation, E*Trade, CIBC fined over reporting issues
May 15 (Reuters) - A U.S. regulator fined units of TradeStation Group Inc TRAD.O, E*Trade Financial Group Inc (ETFC.O: Quotazione) and Canadian Imperial Bank of Commerce (CM.TO: Quotazione) a total of $1.6 million for failing to report trades and for related supervisory failures.
The Financial Industry Regulatory Authority said it fined TradeStation Securities Inc $750,000 for failing to report about 23.5 million "reportable order events" related to orders received.
FINRA said it fined E*Trade $500,000 for failing to report "new order reports" and "route reports," and CIBC World Markets Corp $350,000 for not reporting more than 28 million orders from an affiliate. It said it reduced the CIBC fine because the company reported the problem and took prompt steps to fix it.
None of the firms admitted wrongdoing in agreeing to settle, FINRA said. (Reporting by Jonathan Stempel in Bangalore; Editing by Gopakumar Warrier)
© Thomson Reuters 2016 Tutti i diritti assegna a Reuters.