Broker-Dealer Settles SEC Charges of Deficient ''Blue Sheet'' Submission

The SEC settled charges that a broker-dealer submitted deficient information to the agency about trades carried out by its customers (commonly referred to as "blue sheet data") in violation of Securities Exchange Act Rules 17a-4(j) ("Records to Be Preserved by Certain Exchange Members, Brokers and Dealers") and 17a-25 ("Electronic Submission of Securities Transaction Information by Exchange Members, Brokers and Dealers").

The charged company admitted to the SEC's findings that from January 2012 to January 2014, it had made errors in its filings. The company identified certain technological and human errors as the root cause of these deficient blue sheet submissions and consequently implemented measures to prevent, detect and correct blue sheet errors.