Defendant Name:
Knight Securities L.P.
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Knight Trading Group, Inc.
SIC Code:
6211
CUSIP:
49906310
Initial Case Details
Legal Case Name
In the Matter of Knight Securities L.P.
First Document Date
16-Dec-2004
Initial Filing Format
Administrative Action
File Number
3-11771
Allegation Type
Broker Dealer
Violations Alleged
•
Section 15(c)(1)(A) (as defined in Rule 15c1-2), 17(a) Exchange Act; Rules 17a-4(b)(1), 17a-4(b)(4), 17a-3(a)(1), 17a-3(a)(7) Exchange Act; Failed reasonably to supervise its Leading Sales Trader and institutional sales traders pursuant to Section 15(b)(4)(E) Exchange Act
Resolutions
First Resolution Date
16-Dec-2004
Headline Total Penalty and Disgorgement
$66,841,732
Related Documents:
34-50867
16-Dec-2004
Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings, Making Findings and Imposing Remedial Sanctions Pursuant to Sections 15(b)(4) and 21C of the Securities Exchange Act of 1934
On December 16, 2004, the SEC instituted settled administrative and cease-and-desist proceedings against Knight Securities L.P. According to the SEC: "From January 1999 to November 2000, Knight defrauded its institutional customers by extracting excessive profits out of its customers' 'not held' orders while failing to meet the Firm's duty to provide 'best execution' to the institutions that placed those orders."
34-57222
29-Jan-2008
Administrative Proceeding
Order Directing Disbursement of Fair Fund and Approving an Amended Fair Fund Distribution Plan
The Commission stated; "it is ordered that the Commission shall distribute $53,217,351.28 as provided by the Distribution Plan and, pursuant to Rule 1105(g) of the Commission's Rules on Fair Fund and Disgorgement Plans, approve the Amended Fair Fund Distribution Plan which incorporates administrative amendments relating to the disbursement of the Fair Fund."
34-57222-adp
29-Jan-2008
Administrative Proceeding
Amended Fair Fund Distribution Plan
The Commission stated: "Pursuant to the December 16 Order and subsequent amended Order dated July 27, 20055, Heffler was required to submit a Plan to the staff of the Commission for the administration and distribution of the Distribution Funds. Accordingly, this Plan has been prepared pursuant to the Rules, 17 CFR 201.1100 et seq., and the distribution shall occur pursuant to Section 308 of the Sarbanes-Oxley Act of 2002."
34-59512
05-Mar-2009
Administrative Proceeding
Order Directing Disbursement of Fair Fund
The SEC stated: "[I]t is ORDERED that the Commission shall distribute $1,645,441.31 as provided by the Distribution Plan."
34-72744
01-Aug-2014
Administrative Proceeding
Order Authorizing the Transfer of Remaining Funds and Any Future Funds Returned to the Fair Fund to the U.S. Treasury, Discharging the Fund Administrator, and Terminating the Fair Fund
On August 1, 2014, the SEC ordered the termination of the Fair Fund and the discharge of Heftier, Radetich & Saitta, LLP as the Administrator. The SEC also ordered the transfer of the remaining $17,598,457.08 balance in the Fair Fund and any future funds received by the Fair Fund to the U.S. Treasury.
