In a statement, SEC Philadelphia Regional Office Director Kelly Gibson said, “Broker-dealers must ensure that the trade data they provide to the SEC is complete and accurate. Failure to do so hinders our ability to carry out our mission to protect investors.”
FINRA Executive Vice President and Head of Enforcement Jessica Hopper commented, “Incomplete and inaccurate blue sheet information in response to a regulatory request compromises our ability to identify individuals engaging in insider trading schemes, market manipulation, and other fraudulent activity, ultimately interfering with our ability to protect investors. Firms must invest the resources necessary to ensure that they are providing complete and accurate blue sheet data whenever requested.”
