Defendant Name: Credit Suisse Securities (USA) LLC

Defendant Type: Subsidiary of Public Company
Public Company Parent: Credit Suisse Group AG
SIC Code: 6211
CUSIP: 22540110

Initial Case Details

Legal Case Name In the Matter of Credit Suisse Securities (USA) LLC
First Document Date 31-Jan-2016
Initial Filing Format Administrative Action
File Number 3-17079
Allegation Type Broker Dealer

Violations Alleged

Securities Act
• Sec 17(a)(2)
Other
• Rule 301(b)(2) Regulation ATS Exchange Act; Rule 602(b) Regulation NMS Exchange Act

Resolutions

First Resolution Date 31-Jan-2016
Headline Total Penalty and Disgorgement $10,000,000

Related Documents:

2016-16_CS_3-17079 31-Jan-2016 Press Release--Administrative Proceeding
Barclays, Credit Suisse Charged With Dark Pool Violations; Firms Collectively Paying More Than $150 Million to Settle Cases
On January 31, 2016, the SEC announced that "Barclays Capital Inc. and Credit Suisse Securities (USA) LLC have agreed to settle separate cases finding that they violated federal securities laws while operating alternative trading systems known as dark pools and Credit Suisse's Light Pool."
33-10014 31-Jan-2016 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933 and Sections 15(b) and 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On January 31, 2016, the SEC instituted settled administrative and cease-and-desist proceedings against Credit Suisse Securities (USA) LLC ("CSSU"). According to the SEC: "CSSU, a registered broker-dealer, is the owner and operator of Light Pool, an alternative trading system (ATS) and electronic communications network (ECN). Light Pool, part of CSSUs Advanced Execution Services (AES) business, accepts, matches, and executes orders to buy and sell equity securities that it receives from CSSU customers who access Light Pool either directly (direct subscribers), or by sending orders to CSSU algorithms that are then routed through the AES Smart Order Router ('AES SOR') to Light Pool ('indirect subscribers'). As of June 30, 2014, Light Pool was approximately the 21st largest equities ATS (out of 42) as measured by dollar volume of executions. Since January 2011, CSSU violated certain provisions of the federal securities laws and regulations with regard to its operation of and disclosures regarding Light Pool."