Virtu Financial cooperating with SEC probe over information access barriers

In a regulatory filing, Virtu Financial said that the company has been responding to requests for information from the U.S. Securities and Exchange Commission in connection with an investigation of aspects of the company’s information access barriers. The company is cooperating with this civil investigation and has engaged in settlement discussions in respect of the matter. In the absence of a settlement, the company currently believes it may receive a Wells Notice from the SEC. The proposed action would be expected to allege violations of federal securities laws with respect to the company’s information barriers policies and procedures for a specified time period in and around January 2018 to April 2019 and related statements made by the company during such period. The company believes it would have meritorious defenses in the event of such an action and would plan to assert them.