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Dodd-Frank Wall Street Reform and Consumer Protection Act Market Manipulation Commodities Futures Trading Commission

The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and... more +
The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and includes broad reforms related to many aspects of the financial and banking industry. Notable sections of the Act include stricter regulations of the derivatives market, as well as the Volcker Rule, which restricts the trading practices of FDIC-insured institutions.    less -
Quinn Emanuel

The White Collar Appeal: Seventh Circuit Holds Spoofing is Fraud

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“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

BCLP

CFTC’s Consent Order with Trafigura Trading: When Inaction Becomes Action

BCLP on

On June 17, 2024, the CFTC filed a consent order against Trafigura Trading LLC, requiring the company to pay a $55 million civil monetary penalty and implement remedial measures. The CFTC’s order details three violations of...more

WilmerHale

CFTC Anti-Fraud and Anti-Manipulation Authority: A Focus on Intermediaries

WilmerHale on

The 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”), significantly expanded the Commodity Futures Trading Commission’s (“CFTC” or “Commission”) anti-fraud and anti-manipulation statutory...more

Morgan Lewis - Power & Pipes

Another Guilty Plea in Insider Trading Case Under CFTC’s Anti-Manipulation Rule

A natural gas trader pleaded guilty in federal district court last week to conspiring to commit commodities fraud and wire fraud in an insider trading scheme over natural gas futures. His co-conspirator had pleaded guilty...more

A&O Shearman

CFTC Settlement In Kraft Unwound Due To Ineffectuality Of Confidentiality Provisions, Setting Up Possible Key Legal Rulings On...

A&O Shearman on

On October 23, 2019, Judge John Robert Blakey of the United States District Court for the Northern District of Illinois vacated the $16 million settlement consent order between the U.S. Commodity Futures Trading Commission...more

Jones Day

Commodity Exchange Act: Key Decisions from 2018 and Enforcement Trends to Monitor in 2019

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2018 was an interesting year for market participants subject to the Commodity Exchange Act ("CEA"), with federal appellate courts issuing three noteworthy decisions involving claims under the CEA. The Commodity Futures...more

Jones Day

Trial Loss Unlikely to Significantly Alter CFTC Efforts to Police Market Manipulation

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The Situation: Judge Richard Sullivan of the Southern District of New York ("SDNY") recently issued a post-trial decision in a market manipulation action brought by the Commodity Futures Trading Commission ("CFTC") in 2013. ...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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RBS has agreed to pay $85 million to the CFTC to resolve allegations that its traders “manipulated the ISDAfix benchmark rate over a period of five years to benefit the bank’s derivatives positions”....more

Proskauer - Corporate Defense and Disputes

CFTC Accuses Firm Manually Entering Orders Of Spoofing Scheme That Fooled Algorithmic Traders

Potentially abusive trading algorithms, such as algorithms that purportedly engage in “spoofing” or “layering” are the subject of considerable regulatory interest. However, in an interesting complaint filed on October 19,...more

Morgan Lewis

The US Government’s Charge Against “Spoofing”

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Asset managers should consider the practical implications of these recent developments. Signaling a new area of criminal and civil securities enforcement, federal regulators are flexing their newly acquired powers under...more

Dorsey & Whitney LLP

This Week In Securities Litigation

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This week Senator Elizabeth Warren forwarded a 13 page letter to SEC Chair White regarding her performance in office. The letter highlighted what it calls a “significant gap” between the promises of Ms. White at the time she...more

Skadden, Arps, Slate, Meagher & Flom LLP

"The CFTC’s Fraud-Based Manipulation Authority Raises Questions"

In October 2013, the Commodity Futures Trading Commission used enforcement powers it gained under the Dodd-Frank Act in an order finding that a major financial institution recklessly employed manipulative devices in trading...more

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