NEW YORK, June 6 The U.S. Securities and
Exchange Commission said on Friday it was suing the New
York-based dark pool operator Liquidnet Inc for failing to
safeguard confidential trading information.
The SEC said Liquidnet would pay $2 million to settle the
case, without admitting or denying any of its findings. In its
case, the SEC said Liquidnet improperly used subscribers'
confidential trading information to market its services by
incorporating the data in presentations and sharing it with
A lawyer representing Liquidnet did not immediately respond
to a request for comment.
(Reporting by Emily Flitter; Editing by Jeffrey Benkoe)