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Brief
The Securities and Exchange Commission ("Commission") instituted administrative and cease-and-desist proceedings against SpeedRoute LLC for violating Section 17(a) of the Exchange Act and Rule 17a-8 thereunder. The Commission found that SpeedRoute failed to file Suspicious Activity Reports (SARs) from January 1, 2020, through December 31, 2023, despite identifying red flags indicative of suspicious trading activity. This failure resulted in a $600,000 civil money penalty and censure for the broker-dealer.
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