SG Americas to Pay $3.1 Million to Settle Charges of Providing Deficient Blue Sheet Data

The Securities and Exchange Commission today announced settled charges against broker-dealer SG Americas Securities LLC for failing to provide complete and accurate securities trading information known as "blue sheet data." SG Americas agreed to pay a $1.55 million civil penalty to resolve the SEC's charges and separately agreed to pay $1.55 million to the Financial Industry Regulatory Authority (FINRA) to resolve parallel charges. According to the SEC's order, for more than five years, SG Americas made numerous deficient blue sheet submissions containing missing or inaccurate data, largely due to undetected coding errors. The order finds that SG Americas submitted missing or incorrect data for approximately 27.6 million transactions and had inadequate processes designed to validate the accuracy of its submissions.