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…
Conclusions from ACER’s “EMIT” forum and a WhatsApp deletion issue
ACER's "EMIT" forum, held last week in Ljubljana, covered a spectrum of matters related to REMIT's implementation. The topics included: Inside information (including the currently open consultation which can be…
Market abuse – Insider trading, $25m spoofing fine in the US and discussion on intra-day trading rules
The long running case against Fabiana Abdel-Malek, a former compliance officer at UBS AG, and Walid Choucair a day trader (see here) has returned a "guilty" verdict. Abdel-Malek was accused of providing…
FCA issues “Dear CEO” letter to wholesale brokers
The UK's Financial Conduct Authority(FCA) has issued this open letter to the CEOs of wholesale brokers, across several asset classes. The letter identifies some issues observed by the FCA at…
Article on the paradox of scarcity pricing
See here for an article on the EurActiv web site on scarcity pricing. The article examines the paradox which sees that on the one hand, one of the "selling points"…
ESMA open hearing on MAR
ESMA will run an open hearing on the consultation paper issued several weeks ago on the guidelines on information expected or required to be disclosed on commodity derivatives markets or related spot…
Large market manipulation fine in the US
Following last week's news of a fine under REMIT for market manipulation, the CFTC have fined Total Gas & Power North America $3.6 million for a gas price manipulation, announced here.…