posted
I'm also glad NITE is paying, but it won't change anything. Check out this 2004 spanking they got. I've included some of the more ironic stuff. This is why I'm sure thing won't change:
In addition to the payment of over $79 million, the Order requires Knight to cease and desist from committing or causing any future violations of the broker-dealer anti-fraud and books and records provisions of the Exchange Act, and censures Knight for its failure to reasonably supervise its institutional sales traders. Knight has also voluntarily agreed to retain an Independent Compliance Consultant to conduct a comprehensive review of (i) Knight's policies and procedures with respect to best execution obligations, trade reporting requirements, limit order requirements and books and records requirements, and (ii) Knight's supervisory and compliance structure.
quote:Originally posted by milliam: I'm also glad NITE is paying, but it won't change anything. Check out this 2004 spanking they got. I've included some of the more ironic stuff. This is why I'm sure thing won't change:
In addition to the payment of over $79 million, the Order requires Knight to cease and desist from committing or causing any future violations of the broker-dealer anti-fraud and books and records provisions of the Exchange Act, and censures Knight for its failure to reasonably supervise its institutional sales traders. Knight has also voluntarily agreed to retain an Independent Compliance Consultant to conduct a comprehensive review of (i) Knight's policies and procedures with respect to best execution obligations, trade reporting requirements, limit order requirements and books and records requirements, and (ii) Knight's supervisory and compliance structure.
posted
Ok, just actually read the latest SEC deal with NITE.
Turns out this news is announcing the distribution plan for the money that NITE had to pay from the 2004 bust that I posted above. So, it took them almost 2 years to decide what to do with the money they got from them .
I wonder if NITE had to pay then or now. If its now, then they've probably already made 100's of millions off of it.
quote:Originally posted by milliam: Ok, just actually read the latest SEC deal with NITE.
Turns out this news is announcing the distribution plan for the money that NITE had to pay from the 2004 bust that I posted above. So, it took them almost 2 years to decide what to do with the money they got from them .
I wonder if NITE had to pay then or now. If its now, then they've probably already made 100's of millions off of it.
Good morning everyone .... Yup almost $67 Million .....must have been very bad boys.
Posts: 557 | From: UpState New York | Registered: Sep 2006
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posted
all righty then...got my coffee and ready to see some action today on this stock...(hopefully on the positive side).
Posts: 741 | From: North Carolina | Registered: Feb 2006
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