TechFlow reports that the SEC has charged Archipelago Trading Services Inc. (ATSI) with failing to file hundreds of legally required reports on suspicious financial transactions—known as Suspicious Activity Reports (SARs)—from August 2012 through September 2020, related to over-the-counter (OTC) equity securities transactions executed on ATSI's alternative trading system (ATS).
ATSI has agreed to accept a cease-and-desist order without admitting or denying the SEC's findings and will pay a $1.5 million penalty.
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