Defendant Name:
KCG Americas LLC
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
KCG Holdings, Inc.
SIC Code:
6799
CUSIP:
48244B10
Document Reference:
33-9996
Document Details
Legal Case Name
In the Matter of KCG Americas LLC
Document Name
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Section 8A of the Securities Act of 1933 and Section 15(b) of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
Document Date
21-Dec-2015
Document Format
Administrative Proceeding
Allegation Type
Broker Dealer
Document Summary
On December 21, 2015, the SEC instituted settled administrative and cease-and-desist proceedings against KCG Americas LLC. According to the SEC: "These proceedings arise out of Respondent's failure to seek to obtain best execution of certain customer orders. As a result of such failures, Respondent's representations to its customers that their orders were being handled consistent with best execution requirements was inaccurate."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Disgorgement
Individual:
$685,900.00
Shared:
Civil Penalty
Individual:
$300,000.00
Shared:
Pre-Judgment Interest
Individual:
$69,297.38
Shared:
