Levin statement on New York attorney general’s suit against Barclays

WASHINGTON – Sen. Carl Levin, D-Mich., who recently chaired a Senate Permanent Subcommittee on Investigations hearing on conflicts of interest, loss of investor confidence and high-speed trading, made the following statement today in response to a lawsuit filed by New York Attorney General Eric Schneiderman regarding Barclays’ operation of its “dark pool” trading platform:

“Our recent hearing highlighted some significant conflicts of interest in our stock market, and today’s action by Attorney General Schneiderman alleges more. The behavior described in this complaint would put a bank’s financial interest in marketing its dark pool and profiting by providing access to predatory high-speed traders ahead of the interests of investors. Action is needed to end conflicts of interest in the U.S. stock market.”