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Instinet dinged for surveillance lapses over potential manipulative trading

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Photo: Thomas Lohnes/Getty Images

Julie DiMauro

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FINRA and the NYSE said the firm used unreasonable surveillance parameters to flag potential manipulative trading activity.

In separate actions, FINRA and the New York Stock Exchange American LLC settled charges with Instinet LLC for allegedly failing to comply with market access risk management rules and reasonably supervising for potentially manipulative trading.

In settling the charges, the firms agreed to a censure and a $178,027 penalty (FINRA)

Lax

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