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NY AG preparing case against Credit Suisse dark pool - Fox Business

(Reuters) - New York Attorney General Eric Schneiderman's office is preparing a civil case against Credit Suisse Group AG (CSGN.VX) related to its Crossfinder dark pool, the Fox Business network reported.

The case could be announced in the coming weeks, Fox Business reported.

Dark pools are broker-run trading venues that let investors trade shares anonymously and only make trading data available afterwards, reducing the chance of information leaking about trade orders.

The case would mark the second major civil action filed by Schneiderman's office since regulators launched their probe last year into deceptive practices in dark pools. (http://fxn.ws/1LNEXup)

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Barclays was accused by Schneiderman's office in June last year of misleading clients in its dark pool, LX.

The exact nature of the case against Credit Suisse is unclear but it would be similar to the civil action against Barclays, Fox Business said, citing one person with knowledge of the matter.

Schneiderman's office and Credit Suisse declined to comment.

(Reporting by Neha Dimri in Bengaluru; Editing by Maju Samuel)