“This enforcement action sends the message that the Commission will act to safeguard the integrity and transparency of such information.”
At a paltry 6.5m, the message it sends is “you got away with it.”
At a paltry 6.5m, the message it sends is “you got away with it.”
Considering the description of how this happened (two independent trading bots that sometimes matched one another) it sounds more like a lack of controls rather than any malicious intention to deceive markets. And, at least for now, intent matters in our legal system.
1. What you said. Two bots that lacked controls and interacted with eachother. which may have been accidental
2. A rogue employee intentionally using those bots to fake volume on a specific currency pair. This is actually malicious.