NEW YORK, June 6 (Reuters) - 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 other customers.
A lawyer representing Liquidnet did not immediately respond to a request for comment. (Reporting by Emily Flitter; Editing by Jeffrey Benkoe)