archives

Archive for

US cases – Further development in recent case, and another spoofing case

Following the announcement of a $16m settlement for market manipulation in wheat futures in the US earlier this week (see here), the CFTC has withdrawn the press release. This article on the Lexology web site by  Gary DeWaalKatten of Muchin Rosenman LLP  explains that the defendants enforced an agreement not to publicise the details of … Continue reading

$16m fine in the US, other US fines, and a fine alternative in Northern Ireland

Kraft Heinz Co and Mondelez International Inc have been fined $16 million in the US by the CFTC for market manipulation. The press release can be found here and the order here. The companies are accused to have built up significant positions in wheat futures, with no intention of taking delivery thus sending a false … Continue reading

Inside information – FCA Market Watch

The UK’s Financial Conduct Authority (FCA) has issued their latest “Market Watch” newsletter (number 60). It can be found here. The focus is on the control of access to inside information, following the recent convictions in the case against a UBS compliance officer and a day trader (see here). The newsletter looks at some of … Continue reading

SFTR consultation responses

ESMA recently closed a consultation on the Securities Financing Transaction Reporting regulation (SFTR). The scope of SFTR includes “commodities lending”, which could be taken to include certain activities undertaken by commodity and energy market participants. SFTR covers Non-Financial Counterparties (NFC), as well as Financial Counterparties (FC). Earlier this year the start dates of reporting were … Continue reading

REMIT Quarterly – data format changes on hold and other news

ACER has issued the latest “REMIT Quarterly” newsletter, which can be found here. Points of note include: New reporting formats – this is suspended for 2019 until ACER receive more budget. XBID – An article on page 2 about  how ACER are surveying activity following the XBID implementation. Use of and sharing of data – … Continue reading