Subject: Thomas Joyce

Subject of Interest

Thomas M. Joyce was chairman and CEO of Knight Capital Group from May 2002 until he resigned in July 2013. Joyce served as president of Knight Trading Group until January 2005 after being appointed chairman in December 2004, and has also served as head of brokerage operations since June 2005. Prior to joining Knight, he was briefly global head of trading with Sanford C. Bernstein & Co. after a 15-year stint with Merrill Lynch, where he last served as global head of equity e-commerce from 1999 until 2001. Joyce previously served on the board of directors of NASDAQ. Joyce also serves as a director of the Securities Industry and Financial Markets Association (SIFMA). Joyce received his A.B. in Economics from Harvard College in 1977.


Fined: Sanford C. Bernstein & Co., LLC Fined by FINRA


Sanford C. Bernstein & Co., LLC Fined by FINRA

26 June 2019

An AWC was issued in which the firm was censured, fined $55,000, of which $6,000 is payable to FINRA, and required to revise its WSPs. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that, while acting as a trading center, it failed to establish, maintain and enforce written policies and procedures that were reasonably designed to prevent trade-throughs of protected quotations in national market system (NMS) stocks when it executed these orders internally but failed to simultaneously send intermarket sweep orders (ISOs) to one or more markets displaying protected quotations in that stock.

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