Credit Suisse Said Nearing $80 Million Dark Pool Settlement
- New York AG, SEC said to be focusing on client disclosures
- Accord over private trading venue expected by early October
The Swiss national flag is seen reflected in the window of a Credit Suisse Group AG bank branch in Bern, Switzerland.
Photographer: Matthew Lloyd/BloombergThis article is for subscribers only.
Credit Suisse Group AG will pay more than $80 million to settle state and federal authorities’ allegations that it didn’t fully disclose to its clients how it operated its dark pool, according to a person familiar with the matter.
The Swiss bank will pay more than $50 million in fines and disgorgement in what would be a record dark-pool settlement with the Securities and Exchange Commission, as well as around $30 million to the New York Attorney General, said the person, who asked not to be named because the discussions are private.