Leadership and Companies
SEC Fines OTC Link $575,000 for Repeated Regulation SCI Failures
The SEC censured OTC Link and imposed a $575,000 penalty for longstanding Regulation SCI violations.
What happened
The Securities and Exchange Commission censured New York-based broker-dealer OTC Link LLC and ordered it to pay a $575,000 civil penalty. The settled action concerns longstanding, repeated violations of Regulation Systems Compliance and Integrity, known as Regulation SCI.
Why it matters
The enforcement action puts a defined financial cost on OTC Link’s compliance failures and underscores that longstanding Regulation SCI violations can result in formal SEC censure and monetary penalties.
Source: U.S. SEC Press Releases