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Regulatory Scrutiny Continues on Broker-Dealer Payments for Order Flow, March Madness – NCAA Players Scammed, Resources on the Latest DOL Prohibited Transaction Exemption and More: Lessons Learned and Worth Reading Update for March 2021 | Hardin Compliance Consulting LLC


Lessons Learned
Payment for Order Flow Gets Another Broker into Hot Water for Undisclosed Conflicts. The SEC found Lightspeed Trading, LLC (“Lightspeed”), formerly a registered broker-dealer, guilty of securities fraud for lying to customers and profiting from lower “market center fees” charged by its affiliate for executing trades. In 2012, Lightspeed started offering customers access to an equity trading platform that allowed them to select the exchange or trading venue for executing their orders. Unfortunately, that freedom of choice was an illusion. Lightspeed actually sent many trades to its affiliated Routing Broker, which charged Lightspeed less for the trades than the venues the customers had selected. Lightspeed charged the fees those venues advertised and kept the difference, to the tune of $300,000 over a period of seven months. The SEC required Lightspeed to repay its clients, but the firm pleaded poverty and got $100,000 of its penalty waived. ....

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Stocks Vs. Futures: A Guide For Retail Traders


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This article originally appeared on Topstep.com
Most of us start our trading journey with stocks. It’s the most obvious choice because it’s the only financial product that most of the general population understands. Our parents might have owned shares, we learned about stocks in our high school economics class, and we’re familiar with many of the largest companies in the stock market like Apple, Google, and ExxonMobil.
Of those traders who stick it out long enough to learn about other products, such as futures, many end up making a move away from stocks.
If you’re considering moving from stocks to futures, it’s worth understanding the differences between the two products so you can practically make the transition without surprises or regrets. ....

United States , Pharma Bro Martin Shkreli , Intercontinental Exchange , Interactive Brokers , Lightspeed Trading , Pattern Day Trader , Major Futures Exchanges , ஒன்றுபட்டது மாநிலங்களில் , கண்டம் பரிமாற்றம் , ஊடாடும் தரகர்கள் , ஒளி வேகம் வர்த்தக , முறை நாள் வர்த்தகர் , முக்கிய எதிர்காலங்கள் பரிமாற்றங்கள் ,