Economy

xchrom

(108,903 posts)

15. 'DARK POOL' BROKER PAYING $2M TO SETTLE SEC CASE

Sat Jun 7, 2014, 07:02 AM

Jun 2014

http://hosted.ap.org/dynamic/stories/U/US_SEC_DARK_POOL_SETTLEMENT?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2014-06-06-17-09-17

WASHINGTON (AP) -- A brokerage firm that operates a so-called "dark pool" trading system has agreed to pay $2 million to settle federal civil charges of using customers' confidential trading data to market its services.

The settlement between Liquidnet Inc. and the Securities and Exchange Commission was announced Friday, a day after SEC Chair Mary Jo White proposed new rules that could bring closer oversight of high-speed trading and dark trading pools, which account for as much as 35 percent of trades.

Unlike public stock exchanges, dark pools are private, off-market platforms that offer limited information about participants or operations.

The SEC said that Liquidnet improperly gave access to confidential trading information to a brokerage unit outside its dark pool from 2009 to late 2011.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

52 replies

= new reply since forum marked as read

Highlight:

Weekend Economists Mark D Day, 2014 June 6-8, 2014 [View all] Demeter Jun 2014 OP

Since I'm starting so early, I can't tell if there is a bank failing somewhere Demeter Jun 2014 #1

You might want to check out this story.... dixiegrrrrl Jun 2014 #49

I think you have a scoop there! Thanks for the post! Demeter Jun 2014 #50

You know, I was wondering why JP Morgan and Barclays sold their commodity biz dixiegrrrrl Jun 2014 #51

I had thought they were deciding to shrink out of TBTF Demeter Jun 2014 #52

25 maps and charts that explain America today By Niraj Chokshi and David Beard Demeter Jun 2014 #2

BofA in Talks to Pay At Least $12 Billion to Settle Probes Demeter Jun 2014 #3

Are Deadly Bomb Trains Rolling Through Your Neighborhood? Check the Interactive Map Demeter Jun 2014 #4

Looks like Norfolk Southern DemReadingDU Jun 2014 #10

Is Marriage Becoming a Luxury of the Rich? Demeter Jun 2014 #5

Glenn Greenwald to Publish Names of Americans NSA Spied On Demeter Jun 2014 #6

HIT IT, FRANKIE! FOR PREET Demeter Jun 2014 #7

Tonights agenda. Fuddnik Jun 2014 #8

I'm off to lose money at Euchre--See ya later, alligator! Demeter Jun 2014 #9

If you are the elite, the 1% of the world, you need to destroy the population or reduce it Ghost Dog Jun 2014 #11

Sadly, I've had that same exact thought. Fuddnik Jun 2014 #12

I reckon. Ghost Dog Jun 2014 #34

How did that anti-abortion screed go? Congratulations, you just killed Beethoven? Demeter Jun 2014 #27

US JOB MARKET RECOVERS LOSSES YET APPEARS WEAKER xchrom Jun 2014 #13

KEY WAYS THE US JOB MARKET HAS CHANGED SINCE 2007 xchrom Jun 2014 #14

'DARK POOL' BROKER PAYING $2M TO SETTLE SEC CASE xchrom Jun 2014 #15

Welcome to Baku Fiercely Modern, Millennia-Old, Capitalist-Socialist, Filthy-Rich Capital of Azerbai xchrom Jun 2014 #16

Gross Says U.S. Job Growth Remains Stuck in New Normal Scenario xchrom Jun 2014 #17

SEC Caught Dark Pool and High Speed Traders Doing Bad Stuff xchrom Jun 2014 #18

Morgan Stanley Said to Cut Rates Traders Amid Slump xchrom Jun 2014 #19

Argentina Returning to Local Bond Market After Five Years xchrom Jun 2014 #20

Hedge Funds Betting on Calm as Volatility Shorts Increase xchrom Jun 2014 #21

BofA Mortgage-Case Talks Said to Include Consumer Relief xchrom Jun 2014 #22

BNP Executive Firings Sought by Top New York Bank Regulator Amid Probe xchrom Jun 2014 #23

What a concept! Call Jamie Dimon--tell him he's fired!! Demeter Jun 2014 #29

Draghi�s Resilient Euro Recalls Greenspan Conundrum xchrom Jun 2014 #24

Fracking firm�s advances raising fear in northern Spain xchrom Jun 2014 #25

Global Justice, Sustainability and the Sharing Economy xchrom Jun 2014 #26

IMF warns UK government over housing bubble risk xchrom Jun 2014 #28

More about our special guest Preet Demeter Jun 2014 #30

Federal judge tells US Attorney Preet Bharara to lighten up on the drama FROM NOVEMBER Demeter Jun 2014 #31

PREET PROSECUTES FINANCIAL FRAUD Demeter Jun 2014 #32

Heads up, Campers! Mercury just went retrograde Demeter Jun 2014 #33

What are the odds? Demeter Jun 2014 #36

Pope fires entire board of Vatican financial watchdog Ghost Dog Jun 2014 #35

At least the Pope doesn't have the Secret Service guarding him Demeter Jun 2014 #37

Likely, this is the most important chart ever you shall see published regarding economy. Demeter Jun 2014 #38

Temp Nation: How Corporations Are Evading Accountability, at Workers� Expense xchrom Jun 2014 #39

I don't that kids need that kind of assistance...they seem born knowing Demeter Jun 2014 #40

what-if? Demeter Jun 2014 #44

Preet Cracks Down on White Collar Crime of all kinds! Demeter Jun 2014 #41

Preet and the Devyani Khobragade incident Demeter Jun 2014 #42

Preet When He's At Home Demeter Jun 2014 #43

Coming to a theater near you! Demeter Jun 2014 #45

The way to stop corporate lawbreaking is to prosecute the people who break the law says Robert Reich Demeter Jun 2014 #46

Real Cool Windpower--Engineering Porn! Demeter Jun 2014 #47

I'm toast--See you all Monday on SMW Demeter Jun 2014 #48