October 1, 2018

The Bank of of Nova Scotia has agreed to pay an $800,000 penalty after self-reporting that certain of its traders engaged in unlawful spoofing by placing orders to buy or sell precious metals futures contracts with the intent to cancel the orders before execution. The spoofed orders were meant to create the impression of market interest in order to induce other market participants to respond to genuine orders placed by the traders.  CFTC

Tagged in: Fraud in CFTC-Regulated Markets, Market Manipulation and Trading Violations,