Defendant Name: Credit Suisse Securities (USA) LLC

Defendant Type: Subsidiary of Public Company

Document Reference: 2016-16_CS_3-17079

Document Details

Legal Case Name In the Matter of Credit Suisse Securities (USA) LLC
Document Name Barclays, Credit Suisse Charged With Dark Pool Violations; Firms Collectively Paying More Than $150 Million to Settle Cases
Document Date 31-Jan-2016
Document Format Administrative Proceeding
File Number 3-17079
Allegation Type Broker Dealer
Document Summary 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."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Censured

Related Documents:

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."