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MAR

Mis-marking case in the US

The CFTC has charged a former natural gas trader for fraudulently mis-marking physical and futures natural gas trades, as announced in this press release.

David Smothermon is alleged to have engaged in a multifaceted scheme that, among other things, involved causing false and deceptive entries in the company’s internal record-keeping system to exaggerate the value of the company’s positions in futures contracts and various physical natural gas trades, thereby disguising the true scope of his trading losses.

About avivhandler

Aviv is the Managing Director of ETR Advisory, a niche consultancy focused on the regulation of the commodity, energy and financial markets. He has more than 23 years of experience in the financial, energy and commodity markets, covering regulatory compliance, credit, risk and financial technology. Prior to founding ETR, he was Partner at SunGard Global Services, where he built a Centre of Excellence in European Energy and Commodity Regulation. Before that, he founded Coherence, a consulting firm specializing in credit risk in commodity and energy trading as well as software product management. The credit practice ultimately became part of Sirius Solutions, where he was the Managing Director of Europe. He has also held management roles at KWI and Iris Financial, among other organizations. Mr. Handler holds a degree in computer science from Imperial College, University of London.

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