British brokerage paying $25M to settle SEC charges
ICAP Securities USA, the U.S. division of a big British brokerage, agreed Friday to pay $25 million to settle federal regulators' charges that it deceived customers by displaying thousands of phony trades in U.S. Treasury securities on its screens.
The Securities and Exchange Commission announced the settlement of civil fraud charges with ICAP Securities USA, which it described as the U.S. subsidiary of the world's largest broker of trades between banks, ICAP PLC of Britain. Inter-dealer brokers, as they are called, match buyers and sellers in
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