Whistleblower to ask for millions in relation to Credit Suisse's dark pool fines and disgorgement

The founder of fund manager TFS Capital, said he’s planning to apply for a whistleblower reward after the agency announces its penalty against Credit Suisse.

Credit Suisse may have to pay more than $50 million in fines and disgorgement to the SEC and another $30 million to the New York attorney general over allegations the company misrepresented itself. 

The SEC can award whistleblowers between 10% and 30% of a fine, meaning he could potentially receive a $15 million payday. The dark pool whistleblower said he will submit a claim, provided the SEC suit turns out to be along the lines of the complaints he made.

Dark pools, where supply and demand is kept private and only details of executed trades are made public, make up around one-fifth of trading in the $23 trillion U.S. stock market. Credit Suisse’s Crossfinder platform is the largest alternative trading system in the U.S.

Healthy Markets published a report on September 15, 2015 that concluded, "Dark pools play an important role in our markets. Unfortunately, recent regulatory actions against dark pool operatorshavedemonstratedthatinvestors are justifiedintheir longstanding fears over dark pools’ lack of transparency. Investors and their brokers must revise theirown practices and expectations to better protect themselves from dark pool abuses. By demanding more transparency and lesser conflicts of interest, investors and theirbrokersmayhelpensure dark pools continue to play a constructive role in US capital markets in the years to come."

If you have a similar case please fill out the form below or email mail@whistleblowerinstitute.com or call: 619-452–1218


If you or someone you know experienced a similar situation or any other wrongdoing within a corporation you should contact mail@whistleblowerinstitute.com or call: 619-452–1218

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