WASHINGTON—A subsidiary of media and financial-data company Bloomberg LP agreed Wednesday to pay $5 million to settle regulatory claims that it executed some clients’ stock trades in a way inconsistent with its customer disclosures. The Securities and Exchange Commission said Bloomberg Tradebook LLC, which facilitated electronic trading for institutional investors and some other brokers, failed to disclose that it sometimes allowed business partners to determine how orders would be filled. The practice contradicted Tradebook’s...

Source: Wall Street Journal May 07, 2020 00:11 UTC