{"id":468806,"date":"2023-07-17T14:42:52","date_gmt":"2023-07-17T18:42:52","guid":{"rendered":"https:\/\/www.investmentexecutive.com\/?p=468806"},"modified":"2023-07-17T14:42:52","modified_gmt":"2023-07-17T18:42:52","slug":"mx-settles-over-firms-supervisory-weaknesses","status":"publish","type":"post","link":"https:\/\/www.investmentexecutive.com\/news\/from-the-regulators\/mx-settles-over-firms-supervisory-weaknesses\/","title":{"rendered":"MX settles over firm’s supervisory weaknesses"},"content":{"rendered":"

JitneyTrade Inc. has admitted to supervisory weaknesses that failed to guard against possible manipulative trading activity in a settlement with the regulatory division of the Bourse de Montr\u00e9al Inc.<\/p>\n

The exchange’s disciplinary committee approved a settlement that imposed a $90,000 fine and $13,000 in costs against JitneyTrade for failing to adopt controls to manage the risks associated with allowing direct electronic access to the exchange.<\/p>\n

The compliance weaknesses were uncovered in a trade desk review in September 2017.<\/p>\n

According to the settlement, the firm admitted that its post-trade monitoring controls and review procedures weren’t adequately able to detect certain types of manipulative trading by direct access clients, such as “spoofing” and “marking the open.”<\/p>\n

The firm cooperated with the exchange’s investigation, and the misconduct was not intentional, the settlement noted.<\/p>\n","protected":false},"excerpt":{"rendered":"

JitneyTrade fined $90,000 for weak controls over direct-access clients<\/p>\n","protected":false},"author":147314,"featured_media":393467,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2324,2312],"tags":[2443,2355,2460,2704,2394,3745],"yst_prominent_words":[5061,61863,26531,24366,24361,23674,16880,12872,12051,7257,6646,1825,4154],"acf":[],"_links":{"self":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/468806"}],"collection":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/users\/147314"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/comments?post=468806"}],"version-history":[{"count":3,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/468806\/revisions"}],"predecessor-version":[{"id":468823,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/468806\/revisions\/468823"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/media\/393467"}],"wp:attachment":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/media?parent=468806"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/categories?post=468806"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/tags?post=468806"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/yst_prominent_words?post=468806"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}