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SEC & DOJ Prosecutions

Credit Suisse Agrees to Pay $10 Million to Settle Charges of Light Pool Violations

In the Matter of Credit Suisse Securities (USA) LLC, Respondent

  • 2016
  • $10 Million

Charges arose out of respondent’s operation of its alternative trading system, “Light Pool.” Among other things, Credit Suisse allegedly misrepresented to subscribers that it was monitoring for opportunistic trading in a period of time that it was not, and falsely touted that opportunistic traders would be kicked off the platform (which remained false even after monitoring began, because a trader who was kicked off would continue to have direct access through other system IDs).

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