Become a fan of Slashdot on Facebook

 



Forgot your password?
typodupeerror
DEAL: For $25 - Add A Second Phone Number To Your Smartphone for life! Use promo code SLASHDOT25. Also, Slashdot's Facebook page has a chat bot now. Message it for stories and more. Check out the new SourceForge HTML5 Internet speed test! ×

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.
This discussion was created for logged-in users only, but now has been archived. No new comments can be posted.

Knight Capital fined a measly $12M for a software bug that cost $460M

Comments Filter:

Whom the gods would destroy, they first teach BASIC.

Working...