End of year updates – REMIT consultation, UK AAT, fines and more
This catch up post summarises a few pieces of news over the last weeks: ACER has today announced that they will run a consultation in January and February on whether…
Fine in Australia for failure to prevent commodity derivative market manipulation
ASIC, the Australian financial regulator, has fined a financial firm 3.88 million AUD (approx 2.2m EUR) for failing to monitor and prevent "marking the close" of the wheat futures markets.…
Bank fined 5m AUD for surveillance failure in electricity futures
A large bank has been fined 4.995 million Australian dollars by ASIC, the Australian National Competent Authority, for a for failing to prevent suspicious orders being placed on the electricity…
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,…
UK updates – EMIR REFIT consultation and TCLC fine
The Financial Conduct Authority (the NCA in the UK) has opened a consultation on the UK version of EMIR REFIT in the form of proposed Questions and Answers. These can…
REMIT II adopted by Parliament – MAR fine – more
The European Parliament has adopted the latest version of REMIT II, which will see some significant changes (see here). The announcement can be found here and the adopted text here.…
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.…
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…
REMIT case in Italy – ESMA MAR report
ARERA, the National Regulatory Authority for Italy, has posted this announcement informing of action against a market participant for breaches of REMIT Article 5 (market manipulation). The activity in question…
Traders arrested in Denmark on allegation of energy market manipulation
Eight traders have been arrested in Aarhus in Denmark on allegations of market manipulation of Wholesale Energy Products. The arrests occurred on Wednesday as reported here on the Reuters site…
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