Citadel Nears SEC Settlement Over Customer Orders

(Reuters) Citadel LLC has agreed to settle accusations by the U.S. Securities and Exchange Commission that its market-making arm misled customers about the routing of their stock orders, people familiar with the case told Reuters this week.

SEC commissioners were expected to vote to approve the settlement during their Thursday afternoon meeting, said two sources, who were not authorized to speak publicly about the matter. Terms of the settlement, including the specifics of the SEC’s allegations and the amount of any fine, were not immediately known.

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