Bloomberg News

SEC Sanctions Direct Edge Exchanges, Broker Over Losses, Outages

October 13, 2011

Oct. 13 (Bloomberg) -- The U.S. Securities and Exchange Commission sanctioned two electronic stock exchanges and a broker-dealer owned by Direct Edge Holdings LLC for violations stemming from weak internal controls that resulted in millions of dollars in trading losses and a systems outage.

The SEC announced the sanctions today in an e-mail statement.

To contact the reporter on this story: Gregory Mott in Washington at gmott1@bloomberg.net

To contact the editor responsible for this story: Lawrence Roberts at lroberts13@bloomberg.net


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