Finally some honest assessments of the dark pool, HFT, brokers-selling-client-trust cesspool that has been widely prevalent the past few years. Such a relief to hear the AG characterize fraud as fraud at last. Also it is encouraging to have the AG acknowledge that the money being abused here is not some nameless pool of extraneous capital but rather the collective savings of regular people investing their hopes and dreams for the future in the hands of financial firms who have promised to honor a fiduciary duty (and marketing jingle) to help the clients meet their goals.
NY Attorney General Eric Schneiderman, discusses allegations that Barclays demonstrated a disturbing disregard for “ordinary” investors and operated a “dark pool” that favored high-frequency traders. Here is a direct video link.
Also see: Barclays provided huge advantage to HFT traders: NY AG. These abuses are throughout the system today, so there should be many more charges coming in this theme against many different broker, dealer, traders.
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