Cantor Fitzgerald Agrees to Pay $3.2 Million to Settle Charges for Providing Deficient Blue Sheet Data

The Securities and Exchange Commission today announced that Cantor Fitzgerald & Co. has agreed to pay $3.2 million to settle charges for providing the SEC with incomplete and inaccurate securities trading information known as “blue sheet data.” According to the SEC’s order, for almost five years, Cantor Fitzgerald made numerous deficient blue sheet submissions containing missing or inaccurate data, largely due to inadequate processes designed to validate the accuracy of its submissions and undetected coding errors. The SEC found that Cantor Fitzgerald submitted missing or incorrect data for approximately 35 million transactions. Broker-dealers are required to provide this information, which the SEC uses to carry out its enforcement and regulatory obligations, including investigations of insider trading and other fraudulent activity. “The SEC depends on broker-dealers to provide it with complete and accurate trade data,” said Kelly L.