Defendant Name:
AlterNet Securities, 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
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: ITG, Inc.
Civil Penalty
Individual:
Shared:
$18,000,000.00
Shared with: ITG, Inc.
Pre-Judgment Interest
Individual:
Shared:
$256,532.00
Shared with: ITG, Inc.
Other Defendants in Action: