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Appeals › Market Manipulation › Dodd-Frank Wall Street Reform and Consumer Protection Act

Quinn Emanuel

The White Collar Appeal: Seventh Circuit Holds Spoofing is Fraud

Quinn Emanuel on

“Spoofing,” or the practice of submitting buy or sell orders to trading platforms with the intent to withdraw them prior to execution, is considered fraud under the Seventh Circuit’s decision in United States v. Smith, issued...more

A&O Shearman

Seventh Circuit Upholds First Spoofing Conviction Against High-Frequency Trader

A&O Shearman on

On August 7, 2017, the Seventh Circuit upheld the conviction of Michael Coscia, founder of Panther Energy Trading LLC, for a market manipulation tactic known as “spoofing,” under Section 6c(a)(5)(C) and 13(a)(2) of the...more

Eversheds Sutherland (US) LLP

Seventh Circuit Upholds First-Ever “Spoofing” Conviction

Eversheds Sutherland (US) LLP on

On August 8, 2017, a three-judge panel of the US Court of Appeals for the Seventh Circuit unanimously upheld the first-ever criminal conviction of a New Jersey futures trader for the manipulative trading practice known as...more

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