Monitoring fine in the UK and manipulation cases in the US
Activity in the anti abuse sphere continues, in addition to the large REMIT fine levied in France last week (see here). In the UK, the FCA published this Decision Notice,…
Vitol receives €5m REMIT fine
Vitol SA has received a fine of €5m levied by the Commission de régulation de l'énergie (CRE), the French National Regulatory Authority for a breach of REMIT. The fine is levied for…
FCA reminds that “peer” approaches to MAR compliance are invalid – and other anti abuse news
Earlier this week, the FCA issued this Market Watch document on market conduct and transaction reporting issues. There are several observations on market abuse surveillance, some of which are relevant…
ACER’s 2019 Work Programme – Some parts of REMIT in danger
Last week, ACER published this version of their "programming document for 2019-2021", which includes the 2019 work plan. Starting on page 37, the document talks of the resources required to…
Dawn raid in physical withholding case in Romania and a case in the US
The Romanian Competition Council, in cooperation with the ANRE (the National Regulatory Authority of Romania) has carried out dawn raids as part of an investigation into a possible abuse of a…
Large ING settlement for money laundering includes significant disgorgement element
The Dutch bank ING has reached a settlement with the Dutch Public Prosecution Service of €775m for failures in anti money laundering procedures and compliance, which permitted accounts to be used…
Link for ACER’s “EMIT” forum
ACER will be holding their second "Energy Market Integrity and Transparency Forum" this afternoon (6th September) and tomorrow morning (7th September) in Ljubljana. It will cover a variety of topics…
Brexit update: REMIT SI announced, and developments on the financial side
There have been a few developments in the Brexit story since our last post here. On the political level, the story continues to dominate the headlines in the UK, with…
Study of “misconduct patterns” and more cases
The FICC Markets Standards Board (FMSB) has issued the results of a "Behavioural Cluster Analysis" on misconduct patterns in the financial markets. The key document can be found here, with…
Traders indicted in metals futures spoofing case
Two traders formerly of Deutsche Bank have been indicted by a court in the US for "spoofing" in metals futures, according to this article on the Reuters web site. The…
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