NEW YORK, June 27 Barclays PLC has
shifted the head of its equities electronic trading unit out of
his day-to-day roles so that he can focus on the internal
investigation into the British bank's U.S. dark pool trading
venue, a person familiar with the situation said on Friday.
Bill White's day-to-day duties will taken over by others
within the electronic trading division, said the person, who
requested anonymity because of the sensitivity of the
investigation. The move was reported earlier on Friday by the
Wall Street Journal.
New York's attorney general filed a securities fraud lawsuit
against Barclays this week, alleging its LX Liquidity Cross dark
pool stock trading venue was misleading investors and giving an
unfair advantage to high-frequency traders.
Barclays has also tapped the law firm WilmerHale to help the
bank defend itself against the allegations, according to people
familiar with the matter.
Among the attorneys working with Barclays is Matthew
Martens, a former top litigator at the Securities and Exchange
Commission who is perhaps best known for leading the SEC to
victory in its high-profile civil fraud trial against former
Goldman Sachs Vice President Fabrice "Fabulous Fab"
Tourre, the sources said.
(Reporting by John McCrank)