Reuters: Regulatory News: FINRA has examiners at Knight Capital, reviewing problems

Reuters: Regulatory News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

FINRA has examiners at Knight Capital, reviewing problems Aug 2nd 2012, 20:59 Thu Aug 2, 2012 4:59pm EDT Aug 2 (Reuters) - The Financial Industry Regulatory Authority, Wall Street's self-regulatory body, said on Thursday that it has examiners on site at Knight Capital Group. FINRA spokeswoman Nancy Condon said in a statement that FINRA is "working with other regulators to review the impact resulting from Knight Capital's technology issue which occurred at the opening of trading at the NYSE" on Wednesday. FINRA is also "closely monitoring the firm's capital," adding that as of Thursday afternoon, Knight was in compliance with net capital requirements, Condon said in the statement. A trading glitch with Knight's software roiled markets and wiped out $440 million of the firm's capital, forcing it to seek new funding as its shares plunged more than 80 percent in two days.

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