Vision will pay a $1.5 million fine in addition to the $2.053 million in restitution it paid to customers on March 15, 2014. Vision was also ordered to withdraw from NFA membership six months from today’s decision.
This was no small fraud. Coming on the heels in the MF Global debacle, it threatened the entire futures industry structure. One fraud and violation of customers segregated funds is an anomaly, two might be considered a trend.
The SEC basically thinks high-frequency trading is fine, but it knows you don't think that, and it wants to be tactful. It could just explain that markets aren't rigged, but "markets are rigged" is sort of unfalsifiable.