US prosecutors have hit Barclays with fraud charges which claim the British lender lied to investors about its dark pool electronic trading operations.
It is claimed the bank falsified marketing material to mislead people to investing in its high-frequency dark pool trading operation. Dark pools are anonymous trading venues that keep details secret until after the trades are completed. Barclays runs one of the world’s largest dark pool operations, according to the Telegraph. New York attorney-general Eric Schneiderman said the charges related to an “alleged pattern of fraud and deceit and misrepresentations to investors”. Schneiderman added: “Barclays grew its dark pool by telling investors they were diving into safe waters. Acc...
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