Defendant Name: Archipelago Securities, L.L.C.

Defendant Type: Subsidiary of Public Company
Public Company Parent: Intercontinental Exchange, Inc.
SIC Code: 6231
CUSIP: 45866F10

Initial Case Details

Legal Case Name In the Matter of New York Stock Exchange LLC, NYSE Arca, Inc., NYSE MKT LLC f/k/a NYSE Amex LLC, and Archipelago Securities, L.L.C.
First Document Date 01-May-2014
Initial Filing Format Administrative Action
File Number 3-15860
Allegation Type Other

Violations Alleged

Exchange Act
• Sec 15(c)
Other
• Sections 15(g), 17(a)(1) Exchange Act; Rules 15c-3-1, 17a-11(b)(1) Exchange Act

Resolutions

First Resolution Date 01-May-2014
Headline Total Penalty and Disgorgement $4,500,000

Related Documents:

2014-87 01-May-2014 Press Release--Administrative Proceeding
SEC Charges NYSE, NYSE ARCA, and NYSE MKT for Repeated Failures to Operate in Accordance With Exchange Rules
On May 1, 2014, the SEC announced "an enforcement action against the New York Stock Exchange and two affiliated exchanges for their failure to comply with the responsibilities of self-regulatory organizations (SROs) to conduct their business operations in accordance with Commission-approved exchange rules and the federal securities laws. Also charged was the NYSE exchanges' affiliated routing broker Archipelago Securities."
34-72065 01-May-2014 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Sections 19(h)(1) and 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On May 1, 2014, the SEC instituted administrative and cease-and-desist proceedings against New York Stock Exchange LLC, NYSE Arca, Inc., NYSE MKT LLC, and Archipelago Securities, L.L.C. According to the SEC: "This matter primarily involves a number of episodes in which the Respondent Exchanges engaged in business practices without having effective exchange rules in place, or operated in a manner that did not comply with the exchange rules then in effect or the federal securities laws. In addition, Archipelago Securities L.L.C. ('ArcaSec'), the wholly-owned routing broker for the Respondent Exchanges, failed to establish, maintain, and enforce policies and procedures in connection with error account trading that were reasonably designed to prevent the misuse of material, nonpublic information by the broker or any person associated with the broker. ArcaSec also violated the Exchange Act and rules thereunder by effecting transactions in securities without sufficient net capital and failing to provide timely notice of the net capital deficiency to the Commission."

Other Defendants in Action:

New York Stock Exchange LLC
NYSE Arca, Inc.
NYSE MKT LLC