WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission said on Monday that a unit of New York-based brokerage Sidoti and Co Inc agreed to pay a $100,000 penalty to settle charges of compliance and trading surveillance failures.
"The SEC’s order finds that Sidoti & Company LLC had no written policies or procedures in place from November 2014 to July 2015 as it pertained to those making investment decisions for an affiliated hedge fund that invested in issuers covered by Sidoti’s research department and some other issuers for which Sidoti provided investment banking services," the SEC said in a statement.