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Market Manipulation and Trading Violations

This archive displays posts tagged as relevant to market manipulation and trading violations, including front running, spoofing, straw purchases, naked short selling, and pump-and-dump schemes. You may also be interested in the following pages:

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April 17, 2015

The CFTC announced that it filed a civil enforcement action in a Chicago federal court against Matthew J. Marcus of California and his company, Tech Power, Inc., a Nevada corporation located in California, and John D. Briner, an attorney residing in Vancouver, Canada, and his company, MetroWest Law Corporation, a Canadian law firm, for engaging in fictitious single stock futures transactions on OneChicago LLC and trading non-competitively.  CFTC

April 1, 2015

The CFTC filed a civil enforcement complaint in the District Court for the Northern District of Illinois against Kraft Foods Group, Inc. and Mondelēz Global LLC, headquartered in Northfield and Deerfield, Illinois, respectively, for manipulation and attempted manipulation of the prices of cash wheat and wheat futures.  CFTC

August 4, 2014

The CFTC obtained a $13M penalty against Parnon Energy of California, Arcadia Petroleum of the United Kingdom, and Arcadia Energy of Switzerland for manipulating New York Mercantile Exchange (NYMEX) Light Sweet Crude Oil futures contract spreads from January 2008 to April 2008.  CFTC

July 29, 2014

JP Morgan Securities, a wholly-owned subsidiary of JPMorgan Chase & Co., agreed to pay $650,000 to settle CFTC charges of submitting inaccurate reports to the CFTC relating to the required reporting of positions held by certain large traders whose accounts are carried by JPMS.  The reports are known as “large trader” reports and are used by the CFTC to evaluate potential market risks and monitor compliance with CFTC requirements.  The reporting violations occurred despite the CFTC notifying JPMS of numerous errors in its reports.  CFTC

July 28, 2014

The CFTC issued an Order against Lloyds Banking Group and Lloyds Bank for false reporting and attempted manipulation of the London Interbank Offered Rate (LIBOR) for Sterling, U.S. Dollar, and Yen. The CFTC also brought and settled charges that Lloyds aided and abetted the attempts of derivatives traders at Rabobank to manipulate Yen LIBOR.  The Order requires Lloyds Banking Group and Lloyds Bank to pay a $105M civil monetary penalty, cease and desist from their violations of the Commodity Exchange Act, and to adhere to specific undertakings to ensure the integrity of LIBOR submissions in the future.  CFTC
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