Steven Markovitz, a former trader with Millennium Partners who settled with the Securities and Exchange Commission three years ago for late trading by agreeing to be banned from the industry, has been charged with violating the terms of that agreement.

The SEC said it will determine how much it will fine Markovitz for running an offshore fund between 2004 and 2006 that placed trades through New York.

In the meanwhile, the SEC is penalizing him $570,000 for the earlier charges. That includes a $400,000 civil penalty and $170,000 in fines and disgorgement.

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