The Island ECN, Inc. (CRD #20746, New York, New York) received a censure and fine of $20,000. According to the findings, the firm failed to submit required information and execution reports and to report Reportable Order Events (ROEs) to OATS. The regulators also found that the firm's supervisory system did not provide for supervision reasonably designed to achieve compliance with applicable securities laws and regulations concerning OATS reporting. The firm accepted the fine and censure but did not admit or deny the accusations. (NASD Case #CMS030218)
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