Ross McLellan was convicted in 2018 of plugging hidden commissions into trades.
However, Senate Majority Leader Mitch McConnell has objected to providing funds to fix pension issues.
The company’s subsidiary, Bloomberg Tradebook, allegedly transferred low-commission client orders to unaffiliated broker dealers.
New York regulator said the firm illegally entered into 14 risk transfer deals.
Trustees accused of acting like ‘drunken gamblers’ pay nearly $27 million, deny wrongdoing.