New York Attorney General Eric Schneiderman has moved to widen his case against Barclays amid allegations it defrauded clients in the way it ran its private trading systems known as “dark pools”.
In his latest court filing, Schneiderman said: “The wrongdoing at issue was not limited to a few isolated incidents.
“This was a broad course of conduct involving numerous Barclays employees.”
The Attorney General named 14 Barclays employees but did not describe them as defendants.
He said Barclays had refused to allow two of the most senior ones to make statements to him.
In his amended complaint, Schneiderman said Barclays falsely told clients from 2012 to last year its algorithms gave no advantage to any trading venue, despite having reprogrammed those algorithms to favour the dark pool.
A Barclays spokesman said: “Although we continue to seek to co-operate with the New York Attorney General in this matter we will continue to defend vigorously against these allegations.”
