International Online Trading Platforms Pay More Than $4 Million Following Settlement With The Ontario Securities Commission mondovisione.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mondovisione.com Daily Mail and Mail on Sunday newspapers.
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TORONTO, Dec. 18, 2020 /CNW/ - A Panel of the Ontario Securities Commission (OSC) today approved a
settlement agreement with Bloomberg Trading Facility Limited (BTFL) and Bloomberg Trading Facility B.V. (BV), two foreign-based firms that operate multilateral trading facilities for fixed income securities and swaps. The settlement follows allegations by OSC Staff that the firms operated marketplaces without authorization in Ontario, filed applications for exemptive relief with the Commission containing incomplete and inaccurate information and, in the case of BTFL, failed to comply with terms and conditions set out in an exemptive relief order.
As part of the settlement agreement, BTFL and BV have paid an administrative penalty of CAD $2,506,011.80 and disgorged $663,305.20. The payments take into account, among other things, BTFL and BV s level of cooperation with OSC Staff. To provide transparency to market participants, OSC Staff have
Date
18/12/2020
A Panel of the Ontario Securities Commission (OSC) today approved a settlement agreement with Bloomberg Trading Facility Limited (BTFL) and Bloomberg Trading Facility B.V. (BV), two foreign-based firms that operate multilateral trading facilities for fixed income securities and swaps. The settlement follows allegations by OSC Staff that the firms operated marketplaces without authorization in Ontario, filed applications for exemptive relief with the Commission containing incomplete and inaccurate information and, in the case of BTFL, failed to comply with terms and conditions set out in an exemptive relief order.
As part of the settlement agreement, BTFL and BV have paid an administrative penalty of CAD $2,506,011.80 and disgorged $663,305.20. The payments take into account, among other things, BTFL and BV’s level of cooperation with OSC Staff. To provide transparency to market participants, OSC Staff have included detailed descriptions of how these sancti