3rd open anti-abuse meeting and more cases worldwide
This year has already seen one REMIT fine (see here) as well as anti-abuse activity in other parts of the world. For example the Dalian Commodity Exchange in China announced…
More US anti abuse activity – precious metals – more spoofing
Following the charging of several individuals earlier this year (see here) an additional trader, formerly of JP Morgan Chase and Co, has been charged with market manipulation in precious metals…
Anti abuse activity continues in the US
Anti abuse penalties continue to increase in the US following recent fines (see here). These include a settlement of $67.4 m between the CFTC and Tower Research Capital LLC for…
More developments on wheat futures manipulation case, and more cases
There have been further developments in the case regarding market manipulation in wheat futures in the US (see here). This article on the CNBC web site reports that one of…
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of a $16m settlement for market manipulation in wheat futures in the US earlier this week (see here), the CFTC has withdrawn the press release.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…
Anti abuse cases worldwide
Vitol is in danger of being fined $6M in the US for alleged manipulation in California’s power market. The regulator FERC has issued this "Order to Show cause". An article…
Fine for position limit violation in the US
The CFTC has fined Elephas Investment Management Ltd. a Hong Kong based hedge fund, for violating wheat futures speculative position limits on CBOT. The fine was set at $160,000. The…
MiFID II updates, CFTC position limits
While there is not much news relating to MiFID II specifically for those in energy and commodities, the wider financial services world has seen a great deal of discussion and…
IOSCO finds satisfactory progress in rules implementation
On Monday, the International Organisation of Securities Commissions (IOSCO) published this report, providing the results of the latest survey run across different global jurisdictions on the implementation of the "…
Ofgem REMIT powers, fines set and more anti abuse developments
There has been more activity this week on the anti abuse side of things, following Monday's post here on recent fines. Ofgem, the National Regulatory Authority for the GB energy…