{"id":6591,"date":"2018-09-28T10:00:12","date_gmt":"2018-09-28T10:00:12","guid":{"rendered":"http:\/\/www.investorlawyers.com\/?p=6591"},"modified":"2018-09-28T10:00:12","modified_gmt":"2018-09-28T10:00:12","slug":"securities-news-citigroup-to-pay-12m-over-alleged-dark-pool-misrepresentations-sec-issues-nearly-4m-whistleblower-award-ex-bankrate-ceo-who-pleaded-guilty-to-fraud-gets-10-years-in-prison","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/securities-news-citigroup-to-pay-12m-over-alleged-dark-pool-misrepresentations-sec-issues-nearly-4m-whistleblower-award-ex-bankrate-ceo-who-pleaded-guilty-to-fraud-gets-10-years-in-prison\/","title":{"rendered":"Securities News: Citigroup to Pay $12M Over Alleged Dark Pool Misrepresentations, SEC Issues Nearly $4M Whistleblower Award, Ex-Bankrate CEO Who Pleaded Guilty to Fraud Gets 10 Years in Prison"},"content":{"rendered":"
\n

Citigroup Must Pay Over $12M Over Dark Pool Allegations<\/strong><\/h2>\n

To settle Securities and Exchange Commission that it misled users of a dark pool run by an affiliate, Citigroup Global Markets Inc. (CGMI)<\/a> and the affiliate, Citi Order Routing and Execution (CORE), will pay $12M. The regulator contends that Citigroup (C) misled users when it told them that high-frequency traders were prohibited from trading in Citi Match, despite the fact that two of the dark pool’s most active users qualified as high-frequency traders. These traders had executed over $9B in orders.<\/p>\n

Dark pools are private securities exchange that allows investors, usually big financial institutions, to make anonymous trades. Members of the investing public cannot trade in dark pools. High-frequency trading typically involves the use of supercomputers, usually by financial firms, to make trades within microseconds.<\/p>\n

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

Citigroup Must Pay Over $12M Over Dark Pool Allegations To settle Securities and Exchange Commission that it misled users of a dark pool run by an affiliate, Citigroup Global Markets Inc. (CGMI) and the affiliate, Citi Order Routing and Execution (CORE), will pay $12M. The regulator contends that Citigroup (C) misled users when it told […]<\/p>\n","protected":false},"author":2,"featured_media":6584,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3820,3752,3760,3938],"tags":[3156,3157,2598],"class_list":["post-6591","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-citigroup","category-financial-firms","category-sec-enforcement","category-whistleblowers","tag-bankrate","tag-dark-pool","tag-high-frequency-trading"],"yoast_head":"\nSecurities News: Citigroup to Pay $12M Over Alleged Dark Pool Misrepresentations, SEC Issues Nearly $4M Whistleblower Award, Ex-Bankrate CEO Who Pleaded Guilty to Fraud Gets 10 Years in Prison — Investor Lawyers Blog — September 28, 2018<\/title>\n<meta name=\"description\" content=\"The SEC also found that Citigroup did not disclose that for more than two years, nearly half of Citi Match orders were redirected and executed in dark pools and exchanges other than Citi Match. 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