Virtu Financial Inc. and the U.S. Securities and Exchange Commission (SEC) have reached a tentative settlement to conclude a lawsuit. The lawsuit accused the broker-dealer of failing to adequately protect customer data, a significant regulatory concern.
The parties informed a New York federal judge on July 1, 2025, that "settlement terms were identified that are acceptable to the defendants and that the SEC staff are prepared to recommend that the Commission accept." This indicates progress towards resolving the legal action.
This tentative agreement is a material development for Virtu, as it moves towards resolving a federal securities fraud class action and an SEC action related to information access barriers. A final settlement would remove a notable legal and regulatory uncertainty that has been a concern for the company and its shareholders.
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