The Securities and Exchange Commission today censured New York-based broker dealer OTC Link LLC and ordered it to pay a $575,000 civil penalty for longstanding violations of Regulation Systems Compliance and Integrity (SCI).
According to the SEC's settled order, the firm repeatedly failed to comply with the regulation's requirements over an extended period.
Regulation SCI governs the technology systems that underpin the U.S. securities markets, setting standards for capacity, integrity, resiliency and security.
The censure and civil penalty follow the SEC's settled action against the firm. The SEC announced the outcome in a press release published on its website.
The commission did not disclose further details of the settlement in the announcement.