The Nasdaq Stock Market LLC has published a notice of disciplinary action against TradeLink Securities, LLC.
During the period of January 1, 2021 through April 16, 2021 (the “Relevant Period”), the firm violated Nasdaq Rule Equity 2, Section 5(a)(2) by failing to maintain a continuous two-sided trading interest during regular market hours at prices within certain percentages away from the national best bid or offer (“NBBO”) in 5,591 instances.
The firm also violated Nasdaq General 9, Sections 20 and l(a) by failing to establish and maintain a system to supervise registered representatives and associated persons that was reasonably designed to achieve compliance with applicable securities laws and regulations and with applicable Nasdaq rules.
To settle the matter, the firm has agreed to:
- A censure;
- A total fine of $30,000;
- An undertaking to revise its written supervisory procedures.
