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New York Stock Exchange fined $14M for 2015 outage
Federal regulators slapped the New York Stock Exchange with a $14 million fine over a slew of infractions including a 2015 screw up that shut down trading for 3 ¹/₂ hours. The Securities and Exchange Commission on Tuesday fined the Big Board for failing to put proper rules in place, violating its own rules, and in some cases breaking the law altogether. On July 8, 2015 — in which a botched software upgrade spurred the worst outage in the NYSE’s 223-year history — the exchange was faulted by regulators for “negligent misrepresentations of material facts,” the SEC said. NYSE erroneously sent out price quotes ... (full story)