This is a case about fraud and deceit by one of the world's largest banks - NY Attorney General. The biggest scandal yet involving a broker dark pool has broken with Barclays facing a lawsuit from the New York AG's office accusing it of favouring high-speed traders and falsifying marketing materials to hide how much HFT were buying and selling in their dark pool. This should raise alarm bells for large Australian investors who leave order execution in the hands of their brokers. We note: (1) Several brokers in Australia operate dark pools in which the largest participants are HFT. (2) The same brokers promote their dark pools to institutional clients as being among the largest, without disclosing that this is only because of the presence of HFT. (3) Many institutional clients remain unaware that their orders are being routed to their brokers dark pool instead of public markets. (VIEW LINK)