Liquidnet, Wedbush Subject of SEC Ire

One day following the tough talk of Security and Exchange Commission (SEC) Chairwoman Mary Jo White, the agency fined a major dark pool operator for public disclosure of confidential information about exchange participants, while one of the largest trading firms on the NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) was charged with a laundry list of complaints.

SEC's $2 million fine for Liquidnet

The $2 million fine levied at Liquidnet, which trades nearly 40 million shares per day, resulted from improper release of confidential information about customers of the exchange.  The SEC report on the fine indicates Liquidnet took confidential information about their customers and used it in sales presentations.

"The SEC...