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Bloomberg hit with $5m penalty over data delay misstatements

Arm pointing on charts on a computer monitor on the floor of the New York Stock Exchange.
Photo: xPACIFICA/Getty Images

Vlada Gurvich

3 min read
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The broker-dealer’s conduct was found to violate Section 17(a)(2) of the Securities Act.

The Securities and Exchange Commission (SEC) sanctioned Bloomberg Tradebook LLC (Tradebook), a broker-dealer subsidiary of Bloomberg L.P., for misleading statements about the speed of options market data it provided to customers. 

Between late 2018 and mid-2019, the firm advertised that its data was delivered in fractions of seconds, while

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