Additional actions are likely against private trading venues run by some of Wall Street’s biggest banks, the nation’s top securities regulator and New York state’s attorney general said today as they announced record settlements with two global banks over their so-called dark pools.
Solidifying their oversight of these trading platforms, the U.S. Securities and Exchange Commission and New York Attorney General’s office announced that Barclays Plc and Credit Suisse Group AG would pay more than $154 million in all to settle allegations that they misled investors about how their venues were managed.
