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Citi Pays $12M To Settle SEC's Claims Of Dark Pool Misdeeds

Law360 (September 14, 2018, 7:12 PM EDT) -- A Citigroup Inc. unit has agreed to pay more than $12 million to settle claims by the U.S. Securities and Exchange Commission that it misled institutional investors about high-frequency trading activity in a dark pool run by an affiliate, the agency said Friday.

The deal resolves allegations that Citi falsely told investors from 2011 to 2014 that high-speed traders were barred from Citi Match, a high-end dark pool — a privately owned stock-trading platform — run by bank affiliate Citi Order Routing and Execution, despite the...
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