SEC v. Virtu Financial Inc. and Virtu Americas LLC (2023)

Settled

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In September 2023 the SEC sued Virtu Financial Inc. and Virtu Americas LLC over safeguards for customer order information. On December 2, 2025 the court entered a consent judgment against Virtu Americas with a $2.5 million penalty, and the claims against the parent were dismissed.

The record

What was ordered

Civil penalty

$2.5m

Disgorgement

—

Prejudgment interest

—

Total relief

$2.5m

Alleged gain

—

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

The Securities and Exchange Commission announced the complaint on September 12, 2023 as litigation release 25827, filed in the Southern District of New York.

The complaint says Virtu described its order-execution service for large institutional customers as walled off from its proprietary trading business when it was not, and charges Virtu Americas with failing to maintain and enforce policies protecting customer information.

The charges concern disclosures and policies, not trading on inside information, so the insider-trading tag was removed.

For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the release.

The SEC reported on December 3, 2025 that the Southern District of New York entered a final consent judgment against Virtu Americas LLC on December 2, 2025. Without admitting or denying the allegations, Virtu Americas agreed to be enjoined from violating Section 15(g) of the Exchange Act and to pay a $2.5 million civil penalty. Under the settlement the SEC dismissed with prejudice the remaining claims against Virtu Americas and all claims against Virtu Financial, Inc.

The release describes the allegations as a failure to maintain and enforce policies to keep proprietary traders away from customers' confidential order data between 2018 and 2019. It does not say that any trading misuse was found.

Timeline

1. 2023-09-12 Litigation release published
2. 2025-12-02 Final consent judgment entered against Virtu Americas

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• SEC litigation release
• SEC litigation release reporting the outcome

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Same matter

The library links these 2 records because they appear to concern one matter: the same lead defendant, an overlapping technique tag and close filing dates, or a shared court docket or a release that cites the other. Records are listed by date filed.

This grouping is the library's, made by matching names, techniques, dates and citations when the site is built. It is not the regulator's or a court's determination that the records are one case, and it errs towards missing a link rather than making a false one.

Record added September 10, 2026. submit a correction.