Nice interview by Trish Regan of NY AG Eric Schneiderman. He - TopicsExpress



          

Nice interview by Trish Regan of NY AG Eric Schneiderman. He discuses the suit he filed yesterday against Barclays for what he calls out and out fraud. He is very impressive. He reveals that a high-level Barclays employee was pressured to lie to institutional investor clients. Clients were told that Barclays would buy and sell stock for the clients and route orders to the trading platforms with the best price. But instead, Barclays directed the vast majority of these client trades only to its own trading platform or dark pool. This whistleblower was fired when refused to tell the institutional investor that 35% (instead of the actual 75%) of the clients trades were being filled in Barclays dark pool. Plus Barclays apparently did not reveal how aggressively it was luring high-frequency traders into the pool.
Posted on: Fri, 27 Jun 2014 01:06:47 +0000

Trending Topics



Recently Viewed Topics




© 2015