{"id":5838,"date":"2015-09-14T00:00:00","date_gmt":"2015-09-14T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2015\/09\/credit_suisse_to_pay_over_80m"},"modified":"2022-03-22T14:29:23","modified_gmt":"2022-03-22T19:29:23","slug":"credit-suisse-to-pay-over-80m","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/credit-suisse-to-pay-over-80m\/","title":{"rendered":"Credit Suisse To Pay Over $80M to Settle Dark Pool Allegations, Says Source"},"content":{"rendered":"

Bloomberg.com<\/em> reports that according to someone familiar with the matter, Credit Suisse Group AG (CS) will pay over $80 million to resolve federal and state authorities\u2019 claims that it failed to fully disclose information to clients about how it ran its dark pool. Over $50 million of the payment is expected to take the forms of fines and disgorgement in a settlement with the SEC, while about $30 million would resolve the allegations made by the New York Attorney General. <\/p>\n

Credit Suisse\u2019s dark pool, Crossfinder, is the biggest alternative trading system in the country. The source said that the Swiss bank is accused of misrepresenting certain aspects about the way it runs the platform. <\/p>\n

In dark pools, demand and supply remain private. Only specifics about executed trades are disclosed. Dark pools comprise one-fifth of trading in the U.S. stock market. Large investors, high frequency traders, and hedge funds are among those that trade on these alternative trading systems. There is concern that some traders are able to exploit and profit, sometimes with the help of dark pool operators. Meantime, ordinary investors may be suffering because of their inability to avail of such benefits.<\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bloomberg.com reports that according to someone familiar with the matter, Credit Suisse Group AG (CS) will pay over $80 million to resolve federal and state authorities\u2019 claims that it failed to fully disclose information to clients about how it ran its dark pool. Over $50 million of the payment is expected to take the forms […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3817,3752],"tags":[2676],"class_list":["post-5838","post","type-post","status-publish","format-standard","hentry","category-credit-suisse","category-financial-firms","tag-dark-pools"],"yoast_head":"\nCredit Suisse To Pay Over $80M to Settle Dark Pool Allegations, Says Source — Investor Lawyers Blog — September 14, 2015<\/title>\n<meta name=\"description\" content=\"Bloomberg.com reports that according to someone familiar with the matter, Credit Suisse Group AG (CS) will pay over $80 million to resolve federal and — September 14, 2015\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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