Brokers with checkered histories cast doubt on FINRA enforcement efforts
financial-planning.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financial-planning.com Daily Mail and Mail on Sunday newspapers.
High-speed trading firm linked to Robinhood is going to war with the SEC
kitv.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kitv.com Daily Mail and Mail on Sunday newspapers.
Wall Street firm linked to Robinhood is going to war with the SEC to derail Flash Boys exchange IEX CNN 2/4/2021 © Patrick T. Fallon/Bloomberg/Adam Jeffery/CNBC/ NBCUniversal/Getty Images
Citadel Securities is under the microscope over its relationship with Robinhood. But the high-frequency trading firm is not laying low.
On the same day that Senator Elizabeth Warren demanded answers on Robinhood s ties to Citadel Securities and its affiliated hedge fund, the Chicago-based firm officially launched a legal war Tuesday against the Securities and Exchange Commission.
The timing of Citadel s 77-page court filing Tuesday was unrelated to the recent market turbulence. Citadel Securities filed its intention to sue in October and the two sides agreed last fall to a February 2 deadline for a brief.
Reuters Reuters
23 December, 2020, 7:47 pm
FILE PHOTO: The front facade of the New York Stock Exchange (NYSE) is seen in New York, U.S., November 24, 2020. REUTERS/Brendan McDermid
WASHINGTON (Reuters) – Companies can raise capital on the New York Stock Exchange through direct listings, without losing gains if their stock pops or forking out hefty fees to Wall Street banks, which typically underwrite such capital raisings, the U.S. securities regulator said on Tuesday.
The Securities and Exchange Commission’s approval of the NYSE’s “direct” listing plan threatens to overhaul the U.S. initial public offering market, by allowing aspiring public companies to sell shares directly to investors.