Knight to pay $12 million to settle SEC charges

Adam Jeffery | CNBC

The U.S. Securities andExchange Commission said on Wednesday KCG Holdings' Knight Capital Americas agreed to pay $12 million to settle charges that the trading firm violated the SEC's Market Access Rules in connection with Knight's Aug. 1, 2012 trading glitch that roiled markets.

The rule requires brokers to put in place risk controls to prevent the execution of erroneous trades or orders that exceed pre-set credit or capital thresholds.

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