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Deutsche Bank admits to misleading clients in dark-pool trades
Add BT as a preferred sourcePublished Sun, Dec 18, 2016 · 09:50 PM
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New York
DEUTSCHE Bank AG agreed to pay US$37 million and admit to misleading customers about its dark-pool stock-trading platforms to settle a joint state and federal probe, bringing the bank a step closer to resolving several potentially costly legal challenges in the United States.
The bank will admit to violating state and federal securities laws over a two-year period by failing to address known technical problems with its proprietary dark-pool ranking model, the US Securities and Exchange Commission (SEC) and New York Attorney-General Eric Schneiderman said on Friday.
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