View the article online at http://citywire.co.uk/wealth-manager/article/a758889
Barclays sued for ‘predatory’ & ‘disturbing’ dark pool trades
by Dylan Lobo on Jun 26, 2014 at 07:55
According to the bank, the system rated traders based on the objectives and characteristics of their behaviour.
However, Schneiderman claimed this Liquidity Profiling service was ‘misrepresented’ and failed ‘to provide many of the benefits marketed with the service’.
A number of former Barclays employees assisted Schneiderman’s investigation.
‘No regulator – no matter how broad their authority – can succeed on its own,’ said Schneiderman said. ‘I want to personally thank those that have courageously reported wrongdoing to our office and encourage others to do the same.’
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