Defendant Name: ITG Inc.

Defendant Type: Subsidiary of Public Company
Public Company Parent: Investment Technology Group, Inc.
SIC Code: 6211
CUSIP: 46145F10

Document Reference: 33-9887

Document Details

Legal Case Name In the Matter of ITG Inc. and AlterNet Securities, Inc.
Document Name Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to 8A of the Securities Act of 1933, and Sections 15(b) and 21C of the Securities Exchange Act of 1934, Making Findings and Imposing Remedial Sanctions and a Cease-and-Desist Order
Document Date 12-Aug-2015
Document Format Administrative Proceeding
File Number 3-16742
Allegation Type Broker Dealer
Document Summary On August 12, 2015, the SEC instituted settled administrative and cease-and-desist proceedings against iTG Inc. and AlterNet Securities, Inc. According to the SEC: "This matter involves violations of the federal securities laws by ITG [including both ITG Inc. and AlterNet Securities Inc.] in the operation of its dark pool and its misuse of customer information between April 2010 and July 2011."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Censured
Monetary Penalties:

Disgorgement

Individual:     Shared:     $2,081,304.00
Shared with: AlterNet Securities, Inc.

Civil Penalty

Individual:     Shared:     $18,000,000.00
Shared with: AlterNet Securities, Inc.

Pre-Judgment Interest

Individual:     Shared:     $256,532.00
Shared with: AlterNet Securities, Inc.

Related Documents:

2015-164 12-Aug-2015 Press Release--Administrative Proceeding
SEC Charges ITG With Operating Secret Trading Desk and Misusing Dark Pool Subscriber Trading Information
On August 12, 2015, the SEC announced that, "ITG Inc. and its affiliate AlterNet Securities have agreed to pay $20.3 million to settle charges that they operated a secret trading desk and misused confidential trading information of dark pool subscribers."

Other Defendants in Action:

AlterNet Securities, Inc.