Defendant Name: LavaFlow, Inc.

Defendant Type: Subsidiary of Public Company

Document Reference: 2014-147

Document Details

Legal Case Name In the Matter of LavaFlow, Inc.
Document Name Citigroup Business Unit Charged With Failing to Protect Confidential Subscriber Data While Operating Alternative Trading System
Document Date 25-Jul-2014
Document Format Administrative Proceeding
File Number 3-15985
Allegation Type Broker Dealer
Document Summary On July 25, 2014, the SEC announced that it "charged a Citigroup business unit operating an alternative trading system (ATS) with failing to protect confidential trading data of its subscribers."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Censured

Related Documents:

34-72673 25-Jul-2014 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Sections 15(b) and 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On July 25, 2014, the SEC instituted settled administrative and cease-and-desist proceedings against LavaFlow, Inc. According to the SEC: "This proceeding concerns the LavaFlow ECN, an alternative trading system ('ATS') operated by LavaFlow, a registered broker-dealer.... LavaFlow violated Rule 301(b)(10) [of Regulation ATS] from at least March 2008 through March 2011 by failing to establish adequate safeguards and procedures to protect the LavaFlow ECN subscribers' confidential trading information."