Swiss firm ordered to pay $48m by CFTC for gasoline benchmark manipulation
The CFTC announced yesterday that a Swiss firm has been ordered to pay $48m as part of a settlement for allegedly manipulating the EBOB gasoline benchmark on NYMEX and ICE,…
Catch up: REMIT consultation, fines, UK matters and more
After a break we are restarting this blog today. Here are some key stories from the past weeks. REMIT Implementing Act consultation ACER opened a consultation on the changes to…
GB REMIT fine. Traders sentenced to jail in US
Ofgem, Great Britain's National Regulatory Authority, has fined a market participant 5.4M GBP for failing to comply with communication retention rules that are found in the UK version of REMIT.…
Fines, forums and more
Several pieces of news have come to light over the past days while we have been offline: ACER released the latest version of the REMIT Quarterly, which can be found…
Spoofing fine levied on UK trader by CFTC
The CFTC yesterday announced that a UK based trader has been fined $150,000 and banned from trading for a year for spoofing WTI futures on NYMEX. The trader carried out…
Fines large and not quite as large in the US
The last weeks have seen a set of fines issued in the US: Several banks were fined a total of approximately $1.8bn in total for improper use of messaging apps.…
Manipulation settlements and fines in the US
Last Friday FERC approved a settlement of $181m against Greenhat Energy to finalise a long running case around market manipulation in the PJM market (see here). The alleged offence involved…
Catch up – Traders found guilty, REMIT Quarterly and more
This blog has returned after an unexpected break. Last week, two senior traders, formerly of JP Morgan were found guilty of several offences relating to spoofing in precious metals futures…
More pushback against market interventions – Traders fined – Action re oil market manipulation
An article has been published here on the EURACTIV web site by Christoph Maurer and Lion Hirth arguing against the proposed market interventions in Spain and Portugal. These are being…
Hearing for EMIR consultation, Nord Stream 2 ruled within EU regulation, CFTC adds venues to “Brexit exemption”
ESMA has announced that there will be a hearing related to the consultation currently open(see here) around EMIR reporting on the 20th September. More details can be found here. The…
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