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MAR

This category contains 134 posts

Deutsche Bank fined $10.25m for spoofing and reporting failures

Last week the CFTC announced here that a settlement has been reached with Deutsche Bank for two enforcement matters relating to spoofing and reporting. The reporting issue is covered by $9m of the settlement. It relates to a period in 2016 when a systems outage occurred for several days, resulting in no reporting for that … Continue reading

Market abuse catchup – REMIT fine, inside information guidelines and more

There has been a great deal of anti abuse activity taking place since this blog “took a break” a few weeks ago.  Some of the news includes the following: ACER recently published a quarterly newsletter (see here) which includes a description of a fine levied under REMIT in the Czech Republic for failing to report … Continue reading

New book available

A new book by Aviv Handler on the rules covered by this blog  is now available from the publisher, Risk Books. The book is titled “Navigating European Energy and Commodity Markets Regulation” and can be ordered from here.

REMIT investigations, papers and penalty analysis

Last week Montel published this article which reported that the Bundesnetzagentur(German National Regulatory Authority) has opened  an investigation into potential REMIT infringements by 11 firms, relating to activity in June 2019. This follows warnings given recently to 2 firms for improper activity in the German balancing market (see here). Nordpool has published their latest market … Continue reading

Insider trading accusation in commodities – balancing investigation closed in Germany

Following accusations of insider trading by US Senators relating to the Corona virus  a few weeks ago (see here), it has been reported that an investigation has opened into trading in oil futures based on inside information. This article on Bloomberg reports that the CFTC and FCA have opened probes into transactions in oil futures … Continue reading

Improper record keeping and monitoring penalty

A broker has been fined just over 83,000 GBP  (after applying an early settlement discount) by ICE Futures Europe for failure to keep proper records of activity and improper monitoring. The disciplinary notice can be found here. The fine relates to the lack of organisation behind monitoring  for breaches of the exchange rules, as well … Continue reading

Market abuse updates – Corona related and otherwise

There have been several reports around the selling of stocks by Senator Richard Burr, the chairman of the Senate Intelligence Committee as well as  Senator Sen. Kelly Loeffler and others. The allegations are around the selling of the stocks before information was made public about the extent of the spread of the Corona virus, but … Continue reading

FCA’s Call for Input on accessing and using wholesale data

Last week the UK’s Financial Conduct Authority(FCA) released this Call for Input(CFI) on “Accessing and using wholesale data”. The CFI covers: Trading data Benchmarks Market data vendor services The CFI examines many issues including the pricing and availability of trade and order data across different venue types, which could for example be used as part … Continue reading

Anti abuse forum deadline near – FCA STOR statistics

There is only one week to go until the open anti-abuse forum is to be held in London, on 9th March 2020. Registration is available here and will close within the next two days. On Friday, the FCA published annual statistics on the number of Suspicious Transaction or Order Reports (STOR) submitted to them in … Continue reading

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 … Continue reading