The Securities and Exchange Commission on Tuesday said it sued financial firm Virtu Financial Inc., accusing the market maker and trading-execution company of leaving customer trading data vulnerable to misuse, misleading customers on its data protections and taking in commissions regardless.
In response, Virtu Financial VIRT said it had been in talks to settle the matter, and that the SEC sued after the company was unable to reach an agreement. But it defended its data-protection protocols and called the agency’s allegations…
