In the Margins

ITG board chair quits in wake of SEC settlement

November 17, 2015

By Bloomberg

Investment Technology Group board of directors Chairman Maureen O'Hara will resign in January. The announcement comes three months after the company agreed to pay $20.3 million in a penalty from the Securities and Exchange Commission for operating a proprietary trading desk that used knowledge of customers' requests to trade for its own benefit. The ITG board had approved the creation of a proprietary trading desk as a pilot project. Read the original story from Bloomberg.