WSJ: BATS to Pay $14 Million to Settle Direct Edge Order-Type Case
Today, the Securities and Exchange Commission finalized a record $14 million fine in light of information from Hagens Berman's whistleblower client, Haim Bodek, accusing Direct Edge and BATS Global Trading of failing to accurately and completely disclose how order types functioned on its exchanges and for selectively providing such information only to certain high-frequency trading firms. The fine marks the largest brought against any U.S. financial exchange. Read more about Hagens Berman's case and whistleblower, Haim Bodek.