Trading

ITG confirms plan to pay $20m to settle SEC dark pool charges

Company admitted wrongdoing, ousted its CEO after finding he hadn’t disclosed alleged improprieties

ITG confirms plan to pay $20m to settle SEC dark pool charges

Investment Technology Group confirmed it plans to pay $20.3 million to settle allegations that it operated a secret trading desk and misused confidential trading information.

About two weeks ago, the company said it had set aside that amount for a likely settlement over alleged improprieties related to its "dark pool," which is a privately-run venue that helps buyers and sellers trade anonymously.

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