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tZERO settles with SEC over late filings under ATS rules

The Securities and Exchange Commission is fining tZERO, a leading platform for security tokens in the US, for off-market trading. Per a January 10 order, the SEC says that tZERO made a number of errors in its filing of disclosures. tZERO operates as an alternate trading system, which has different filing requirements than a typical securities exchange. According to the settlement, tZERO failed to disclose several changes to its operations within the normal timings. These include the use of non-U.S. …