March 29, 2017

Louis Capital Markets, LP

Trading and Pricing

SANCTION AMOUNT: $2.5 million

Defendants: Louis Capital Markets, LP

Settlement of charges that respondent willfully, unlawfully obtained millions of dollars from its customers by adding hidden markups and markdowns to their trades over roughly a four-year span. The SEC found that brokers on respondent’s cash equity desk were engaged in this practice, hiding the charges by providing false prices during periods of market volatility.

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