News & Analysis as of

Enforcement Market Manipulation

Bracewell LLP

Forced Enforcement? The Fine Line in the CFTC’s Approach to Market Manipulation

Bracewell LLP on

On 27 August 2024, a Swiss commodity trader entered into a settlement agreement for $48 million with the US Commodity Futures Trading Commission (“CFTC”) in relation to alleged market manipulation charges. This case, rooted...more

Davis Wright Tremaine LLP

CFTC Charges Trading Company With Market Manipulation and Whistleblower Protection Violations

On June 17, 2024, the CFTC's Division of Enforcement announced that it had reached a settlement with Trafigura Trading LLC ("Trafigura") over allegations that the firm manipulated oil derivatives prices while discouraging...more

Bracewell LLP

Lifting the Fog on the Foreign Corrupt Practices Act: Enforcement and Compliance Trends to Watch in San Francisco

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As lawyers, corporate executives and federal law enforcement officials prepare to gather this week in San Francisco for the ABA’s 39th National Institute on White Collar Crime, we offer our takeaways from January’s Houston...more

Pierce Atwood LLP

FERC Releases Fiscal Year 2023 Annual Enforcement Report

Pierce Atwood LLP on

The Federal Energy Regulatory Commission’s (FERC) Office of Enforcement (OE) recently issued its Fiscal Year 2023 Annual Report on Enforcement. As in previous years, the Enforcement Report discusses the activities performed...more

Sheppard Mullin Richter & Hampton LLP

Financial Crimes Makes Debut in FINRA Annual Priorities Preview

FINRA punctuated its annual post-New Year’s Report on FINRA’s Examination and Risk Monitoring Program (the “Report”), by including a new target category “Financial Crimes.” The inclusion of this category is noteworthy not...more

Foley & Lardner LLP

Threats of Antitrust Enforcement in the Supply Chain

Foley & Lardner LLP on

With steep inflation and seemingly constant disruptions in supply chains for all manner of goods, the Biden Administration has turned increasingly to antitrust authorities to tame price increases and stem future bottlenecks....more

Morrison & Foerster LLP

Commodities Futures Trading Commission and National Futures Association Announce Enforcement Trends and Priorities

The Commodities Futures Trading Commission (CFTC) and the National Futures Association (NFA) have outlined a broad enforcement agenda that aims to address recent commodities marketplace trends....more

Holland & Knight LLP

Exponential Growth in SEC Whistleblower Program: A Sign of Things to Come for FY 2022

Holland & Knight LLP on

"Record breaking" is how the U.S. Securities and Exchange Commission (SEC) described its whistleblower program results in FY 2021, and it's not hard to see why. The agency continued to receive tips from all corners of the...more

Vinson & Elkins LLP

2021 Energy and Chemicals Antitrust Report

Vinson & Elkins LLP on

Antitrust activity increased significantly in 2021. This past year brought numerous changes in merger and non-merger enforcement policies and priorities that signal increased scrutiny in industry transactions. The “Biden...more

WilmerHale

State of the Markets – Speech by Mark Steward

WilmerHale on

On 6 February 2020, Mark Steward, Executive Director of Enforcement and Market Oversight at the Financial Conduct Authority (“FCA”), spoke at the 19th Annual Institute on Securities Regulation in Europe. His speech,...more

WilmerHale

Commodity Futures Trading Commission - 2019 in Review: CFTC 2019 Enforcement and Regulatory Developments and a Look Forward

WilmerHale on

In 2019, the Commodity Futures Trading Commission (CFTC or Commission) experienced significant changes in leadership, including the appointment of Dr. Heath P. Tarbert as the Commission’s 14th Chairman. The Division of...more

WilmerHale

Issues to Watch at FERC in 2020

WilmerHale on

Several developments may raise the profile of the Federal Energy Regulatory Commission (FERC or the Commission) in 2020. First, the growing importance of renewable energy generation will raise new issues for FERC. On...more

Dorsey & Whitney LLP

The CFTC Annual Enforcement Report

Dorsey & Whitney LLP on

The CFTC Division of Enforcement filed its Third Annual Report at the end of November 2019, reviewing the fiscal year. The Report is the typical mixture of goals, statistics, analysis and initiatives. Overall it offers...more

Morgan Lewis

FERC Rescinds Its Policy of Issuing Notices of Alleged Violations

Morgan Lewis on

FERC issued an order on May 16 rescinding its 2009 policy of issuing Notices of Alleged Violations (NAVs) after the subject of an investigation is given an opportunity to respond to FERC Enforcement Staff’s preliminary...more

King & Spalding

Our Modern Markets: SEC Enforcement Focuses On Market Structure In Response To Rapidly-Changing Equity Markets

King & Spalding on

On Monday, November 2, 2015, Andrew Ceresney, Director of the SEC’s Division of Enforcement, gave a speech at the SIFMA Compliance & Legal Society New York Regional Seminar in which he sought to address what he views as the...more

Proskauer - Corporate Defense and Disputes

SEC Director of the Division of Enforcement Discusses Market Structure Enforcement

On November 2, 2015, the Director of the SEC Division of Enforcement Andrew Ceresney spoke at the “SIFMA Compliance & Legal Society New York Regional Seminar” and outlined the SEC’s enforcement priorities with respect to...more

Morgan Lewis

The US Government’s Charge Against “Spoofing”

Morgan Lewis on

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

Akin Gump Strauss Hauer & Feld LLP

FERC Issues Notice of Alleged PJM Market Manipulation to Alan Chen and Powhatan Energy Fund, LLC

On August 5, 2014, the Federal Energy Regulatory Commission (FERC) issued a Staff Notice of Alleged Violations (Preliminary Notice) stating that FERC’s Office of Enforcement has preliminarily determined, in a non-public...more

Dorsey & Whitney LLP

This Week In Securities Litigation (Week ending July 18, 2014)

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The SEC’s insider trading probe regarding the House Ways and Means Committee and a senior staff member, also involves 44 investment funds and other entities, according to a Bloomberg news report citing recently filed court...more

Akin Gump Strauss Hauer & Feld LLP

FERC’s Principles-Based Enforcement

You may have noticed the Federal Energy Regulatory Commission (FERC) has received lots of heated criticism over its enforcement of alleged market manipulation and fraudulent behaviors. You may also have noticed FERC has not...more

Dorsey & Whitney LLP

This Week In Securities Litigation (Week ending June 13, 2014)

Dorsey & Whitney LLP on

The Commission failed to prove its insider trading claims to the satisfaction of a jury for the second week in a row. This time a Los Angeles jury rejected claims of the agency against a corporate executive that were tied to...more

King & Spalding

Crude Allegations: Corruption in the Energy Trading Sector

King & Spalding on

The world-wide energy trading sector, where traders match physical supply and demand of energy by purchasing, reselling, and moving commodities (crude oil and refined products, natural gas, coal, and even electricity) across...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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