$600,000 Knicks Seats Among Perks That Triggered Fine for BGC

BGC Partners Inc.’s Richard Anthony is a diehard Knicks fan who has long had courtside seats for a basketball team that’s known for annoying New Yorkers with its struggles. Now his fandom is contributing to irritations at Wall Street’s top regulator.

A BGC brokerage unit was fined $1.25 million by the Securities and Exchange Commission July 17 over allegations that included failing to appropriately report sports tickets and travel expenses as compensation.

The perks included one broker receiving $600,000 a year in free athletic tickets and $100,000 for an international birthday celebration, according to the SEC. Another broker got $25,000 ...