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Two weeks to the anti-abuse forum – and case updates

There are two weeks to go until the 3rd anti-abuse forum is held in London, on 9th March 2020. ETR Advisory and the Market Abuse Centre jointly organise the events for the energy and commodities industries, which are open to all professionals in the European energy and commodities markets. No membership of any organisation or venue is required to take part. Registration is available here.

There have been a few developments in previously reported cases over the past weeks:

The story of a criminal sentence for a compliance officer and day trader involving the passing of inside information and the use of a “burner” phone in the UK (see here) has been updated here on the Bloomberg site.

The case against a bank for spoofing in precious metals in the US (see here) has seen a similar case settled, which has given some cause for negotiation. The story is reported here on the Bloomberg site.

The case against two companies for manipulation of wheat futures prices, which was settled with the CFTC last year, but whose publication led to a dispute (see here) has developed further, with this article on the Reuters website reporting that a judge has awarded a “partial win” to the firms regarding the statements made.

The DCM blog also has an updated story on the case of a fine involving both market abuse (via spoofing and other methods) and “failure to supervise”. Fines have been levied against the firm in question by both the CME and the CFTC. The story can be found on the blog here.

This article on the Daily Telegraph web site looks at ongoing questions in the nickel ore market after an investigation was launched by the LME in November 2018 following allegations of stockpiling ahead of an export ban out in place by the Indonesian government.

There is therefore much to be discussed at the forthcoming forum.

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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