Express
tZERO Settles With SEC Over Late Filings Under ATS Rules
Summary: The Securities and Exchange Commission is fining tZERO, a leading platform for security tokens in the US, for off-market trading. Per a January 10 order, the SEC says that tZERO made a number of errors in its filing of disclosures. tZERO operates as an alternate trading system, which has different filing requirements than a typical ...
The Securities and Exchange Commission is fining tZERO, a leading platform for security tokens in the US, for off-market trading. Per a January 10 order, the SEC says that tZERO made a number of errors in its filing of disclosures. tZERO operates as an alternate trading system, which has different filing requirements than a typical securities exchange.
According to the settlement, tZERO failed to disclose several changes to its operations within the normal timings. The order requires tZERO to pay $800,000 in penalties to the US securities regulator, without admitting or denying the findings, and issues a cease and desist against future violations in the future.
By Amy Liu
