Securities Lawyers Blog
The law offices of Gana Weinstein LLP represents investors in investment disputes with their financial advisors or brokerage firms, such as Liquidnet, Inc.. Many investors do not recognize financial advisor misconduct when it happens, but there are steps that can be taken to recover investment losses. There are many different types of broker misconduct, including breach of fiduciary duty, failure to supervise, misrepresentation, and churning. The attorneys at Gana Weinstein LLP can analyze your investments to determine if there was actionable misconduct by the broker or brokerage firm.
Liquidnet, Inc. is an institutional trading network that lets asset managers trade large blocks of equities anonymously and offers algorithmic trading tools, liquidity aggregation, and execution across equities, fixed income, and listed derivatives. Founded in New York in 1999 by Seth Merrin, the firm now operates in more than 30 markets worldwide and is part of TP ICAP Group.
Liquidnet, Inc. – By the Numbers:
- CRD #: 103987
- Regulatory Events: 11
- Broker Employees: 88
Liquidnet, Inc. – In the News:
FINRA v. Liquidnet, Inc. (Case #2023077018401) – From February 2018 through March 2024, Liquidnet published 74 inaccurate monthly reports of executions of covered orders in NMS securities required under Regulation NMS Rule 605 of the Securities Exchange Act of 1934. As a result, Liquidnet violated Regulation NMS Rule 605 and FINRA Rule 2010.
FINRA v. Liquidnet, Inc. (Case #2017053083501) – From August 2015 to January 2018, Liquidnet published inaccurate data in monthly reports it was required to publish pursuant to Regulation NMS Rule 605. Specifically, the firm misclassified marketable limit orders as inside-the-quote limit orders in 30 consecutive Rule 605 reports in violation of Regulation NMS Rule 605 and FINRA Rule 2010.
FINRA v. Liquidnet, Inc. (Case #2015044327201) – In connection with Star No. 20150443272, the Order Audit Trail staff of the Department of Market Regulation reviewed the firm’s reporting to the Order Audit Trail System (“OATS”) and related supervision during the period April 7, 2014 through December 31, 2014, and a related review covered September 14, 2015 through September 16, 2016. During the first review period, the firm transmitted to OATS 5,861,600 Reportable Order Events (“ROEs”) that contained inaccurate, incomplete, or improperly formatted data because they did not report order event timestamps in milliseconds when the firm’s systems captured time in milliseconds. During the second review period, the firm transmitted to OATS 10,499,007 ROEs that contained inaccurate, incomplete, or improperly formatted data. The conduct constitutes separate and distinct violations of FINRA Rule 7450.
Gana Weinstein LLP has successfully litigated broker disputes through verdict or settlement. We represent both individuals and institutions throughout the country in FINRA arbitration, as well as commercial litigation in state and federal courts. Our consultations are both free and thorough and our securities litigation attorneys can help you uncover wrongful activity in your account.