By Denny JacobThe Securities and Exchange Commission on Wednesday said it settled charges against RSE Markets for operating as an unregistered exchange. The SEC said RSE agreed to cease and desist from committing or causing any violations as well as future violations and agreed to pay a $350,000 civil penalty without admitting or denying its findings. The SEC said its order finds that from 2018 to 2021, RSE operated the Rally Platform, which consisted of RallyRd.com, the Rally app and trading functionality, for retail investors to purchase and sell securities. The regulator's order said that trading interests that RSE accepted were firm orders. It also said that despite RSE marketing its Rally Platform as a stock exchange, it neither registered it as a national securities exchange nor operated it pursuant to an exemption from such a registration.

Source: Wall Street Journal July 13, 2023 08:35 UTC