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…
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…
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.…
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.…
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…
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…
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…
The UK's Financial Conduct Authority (FCA) has fined a broker group 4,775,200 GBP, for breaches of the Market Abuse Regulation Article 16(2), which requires "Professional Persons Arranging or Executing Transactions"…
In what is proving to be a "big news" day, the FCA has announced a fine levied against a broker for various failings, including failing to carry out "effective monitoring"…
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.…
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…