“SG Americas willfully violated the broker-dealer books and records and reporting provisions of the federal securities laws,” the SEC stated in its order.
On the other hand, the FINRA alleged that SG Americas together with Newedge USA (a firm it acquired in 2015) submitted approximately 8,400 inaccurate blue sheets from 2012 to 2019. The inaccurate submissions included 4.2 million equity and options transactions.
SG Americas to pay to $3.1 million in civil penalties
SG Americas admitted to the SEC allegations. To resolve the matter, the investment management company agreed to a censure, to stop committing or causing violations and any future violations of Section 17(a)(1) of the Exchange Act and Rules 17a-4(j) and 17a-25, and to pay a civil penalty of $1.55 million.
With regard to the allegations of FINRA, SG Americas agreed to pay $1.55 million to settle the matter. The investment management firm did not admit or deny the charges but consented to the entry of the regulator’s findings.
