Core Viewpoint - Virtu Financial will pay a $2.5 million fine to settle accusations from the U.S. Securities and Exchange Commission regarding improper access to confidential customer information by employees at its broker-dealer unit [1][2]. Group 1: Settlement Details - The settlement involves a fine of $2.5 million, approved by U.S. District Judge John Koeltl in Manhattan [1][2]. - Virtu Americas, the broker-dealer unit, handled approximately 25% of market orders from U.S. retail investors during the relevant period [2]. Group 2: Allegations and Findings - The SEC's civil complaint, filed in September 2023, stated that Virtu misled customers about the existence of "information barriers" and "systemic separation between business groups" meant to protect nonpublic information [2]. - From January 2018 to April 2019, broker-dealer employees accessed confidential customer information, including names and trade details, using a commonly shared generic username and password [3]. Group 3: Company Response - Virtu disclosed to the SEC in 2019 that trade data may have been accessible to more employees than intended, coinciding with the migration of a recently acquired business into a back-office database [4].