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Submission + - Knight Capital fined a measly $12M for a software bug that cost $460M (networkworld.com)

Mark Gibbs writes: Knight monumentally fouled up a software update and, according to the SEC, "Knight did not have supervisory procedures to guide its relevant personnel when significant issues developed." In other words, not only was Knight's code management inadequate but their human management processes were just as bad. The fine for what could have been a biblical financial disaster? A measly $12 million.
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Knight Capital fined a measly $12M for a software bug that cost $460M

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"You show me an American who can keep his mouth shut and I'll eat him." -- Newspaperman from Frank Capra's _Meet_John_Doe_

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