Barclays Hid Traders’ Role After Questions: Schneiderman
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Barclays Plc hid the role of high-frequency traders in its dark pool even after the bank said it had shut off clients who engaged in suspect activity, New York Attorney General Eric Schneiderman said.
Schneiderman sued Barclays in New York State Supreme Court in Manhattan in June, accusing Britain’s second-largest bank of bilking its own customers in order to expand its dark pool. The bank in July asked the court to dismiss the case, saying that the suit is based on factual errors and fails to show any investors were harmed.