Virtu Staff Could Improperly Access Trade Info, SEC Alleges (3)

The US Securities and Exchange Commission sued market-making giant Virtu Financial Inc. in federal court for alleged policy lapses that the regulator said could have let employees access confidential information behind customers’ trades.

The SEC claimed on Tuesday that for a 15-month period “virtually all employees” at subsidiary Virtu Americas LLC could access confidential trade information. According to the regulator, data included the names of customers and securities, as well as execution price and volume.

Gurbir Grewal, director of enforcement at the Securities and Exchange Commission

Photographer: Jeenah Moon/Bloomberg

Wall Street’s main regulator also said that the firm made misleading statements about its barriers to prevent access of customer information. The SEC didn’t ...