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Stock Market & Financial Investment News

News Breaks
June 25, 2014
16:36 EDTBCSNY AG announces fraud charges against Barclays in connection to dark pool
Attorney General Eric Schneiderman announced a lawsuit against the international bank Barclays, arising from the operation of Barclays’ dark pool and other aspects of its electronic trading division. The complaint alleges Barclays has dramatically increased the market share of its dark pool through a series of false statements to clients and investors about how, and for whose benefit, Barclays operates its dark pool. Contrary to Barclays’ representations that it has implemented special safeguards to protect clients from “aggressive” or predatory high-frequency traders, Barclays is accused of operating its dark pool to favor high-frequency traders.“The facts alleged in our complaint show that Barclays demonstrated a disturbing disregard for its investors in a systematic pattern of fraud and deceit,” Attorney General Schneiderman said. “Barclays grew its dark pool by telling investors they were diving into safe waters. According to the lawsuit, Barclays’ dark pool was full of predators – there at Barclays’ invitation.” Reference Link
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August 31, 2015
06:35 EDTBCSCiti plans to rebuild equities franchise, Reuters reports
Citigroup (C) is planning to rebuild its equities franchise in an effort to capitalize on a retrenchment by rivals in the face of new rules created to make the financial system less risky, Reuters reports, citing people familiar with the bank's plans. It may be tough to overcome leaders such as Goldman Sachs (GS), Morgan Stanley (MS), and JPMorgan Chase (JPM), that have long dominated the sector, the report says. Citi is aiming to profit from a retreat of rivals slow to adapt new rules forcing banks to keep more capital, the report says. Deutsche Bank (DB), Credit Suisse (CS), and Barclays (BCS) are among others rebuilding their investment banking businesses, the report adds. Reference Link
06:10 EDTBCSBanks lobby EU over privacy rules overhaul, FT reports
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August 27, 2015
07:57 EDTBCSPlatts to hold a conference
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06:13 EDTBCSJudge throws out HFT suit against Barclays, exchanges, FT reports
A U.S. judge has dismissed investor lawsuits against Barclays and certain U.S. exchanges alleging that the bank rigged its "dark pool" trading venue in favor of high-frequency traders, the Financial Times reports. The judge ruled that the plaintiffs did not claim any actions meeting the definition of "manipulative acts," the report says. Reference Link
August 18, 2015
06:45 EDTBCSNine banks agree to $2B settlement for currency market rigging, FT says
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