Taming the Shadowy World of Dark Pools

After operating in the shadows for more than two decades, the murky world of dark pools is coming into the light. On July 1, 2014, the Financial Industry Regulatory Authority (FINRA), independent securities regulator of the US, imposed a fine of $800,000 on Goldman Sachs for failing to ensure that trades in its dark pool trading system took place at the best price. Would an $800,000 fine on Goldman Sachs act as a deterrent to stop predatory behavior? The answer is No. The bank may consider this small fine…