JONES DAY TALKS®: CFTC and DOJ Target Derivatives Trading Across Industries
FERC: A Discussion on its Mission, Market Manipulation Investigations, and Common Violations
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
In Short - The Situation: In parallel federal actions, the Department of Justice ("DOJ"), Securities and Exchange Commission ("SEC"), Commodity Futures Trading Commission ("CFTC"), and Federal Trade Commission ("FTC")...more
On May 24, 2023, Edward A. Imperatore, a partner in Morrison Foerster’s Investigations + White-Collar Defense group and former Assistant U.S. Attorney for the Southern District of New York, moderated a panel, entitled “Market...more
Mango Markets is a decentralized cryptocurrency exchange that allows users to purchase and borrow cryptocurrencies and cryptocurrency-related financial products. Mango Markets is run by the Mango Decentralized Autonomous...more
Multiple U.S. government agencies have pursued a stream of enforcement actions in the digital asset industry in recent years. In fiscal year 2022, 20% percent of the enforcement actions brought by the Commodity Futures...more
The Justice Department and the Security and Exchange Commission (SEC) have charged eight men of using their social media clout to manipulate investors in a stock pump-and-dump scheme. The defendants allegedly took to Twitter...more
"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
Social media started out as a way to connect with old friends and distant relatives. Not anymore. Now, social media is being weaponized by everyday people to topple the giants of Wall Street. Recently, posters on Reddit and...more
GameStop’s continuing surge this week has gone from something of a lark to a collective small-trader effort to stick it to Wall Street hedge funds and institutionalists, with share-price fundamentals discarded entirely in...more
CEP Magazine (December 2020) - The United States Department of Justice (DOJ) and the U.S. Securities and Exchanges Commission announced a deferred prosecution agreement with JPMorgan Chase & Co., including a fine of $920...more
On September 29, 2020, US authorities announced that they reached an agreement with JPMorgan Chase & Co. (JPMorgan Chase) to settle criminal charges related to two distinct years-long market manipulation schemes involving...more
On November 6, 2019, the Fraud Section of the Department of Justice with the Office of the U.S. Attorney for the Southern District of Texas, and the CFTC, announced settlements of their spoofing and market manipulation...more
Uneconomic trading in regulated markets is a key focus of market regulators such as the DOJ, SEC, CFTC and FERC. Traders at times, for example, take different positions in select markets which can result in losses in one...more
Two weeks ago, a federal court of appeals sided with the Commodity Futures Trading Commission ruling that a district court could not require the testimony of three commissioners and various staff to assess whether the agency...more
U.S. regulators, in particular the Commodity Futures Trading Commission (“CFTC”), are intently pursuing market manipulation enforcement. The September 30 end of the 2019 fiscal year brought with it a flurry of press releases...more
The DC Circuit Court of Appeals dealt the DOJ a blow yesterday with a ruling that “rejected the government’s claim that a lower court had applied antitrust laws incorrectly in allowing the merger” between AT&T and Time Warner...more
This issue of Skadden’s semiannual Cross-Border Investigations Update takes a close look at recent cases, regulatory activity and other key developments, including DOJ guidance on the use of corporate monitors in criminal...more
Early reports suggested that although Teresa May’s cabinet wasn’t thrilled, it backed the PM’s Brexit plan, leaving the controversial deal to make its way to Parliament. But the resignation of two Cabinet members—including...more
In order to comply with European antitrust rulings against it earlier this year, Google announced that for the first time it will begin charging telephone handset manufacturers to install Gmail, Google Maps, and other popular...more
Deutsche Bank—in keeping with its post-Cryan plans to shrink its US footprint—has been considering plans “in recent weeks to eliminate close to 10,000 jobs.” [It’s now looking like 7,000.] ...more
In a time of shifting opinions on the benefits of globalization, China’s “One Belt, One Road” initiative (OBOR) offers an unexpected bright spot for multinational companies able and willing to participate in this...more
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
The emissions cheating scandal that recently cost VW $4.3 billion and a mess of criminal indictments isn’t, it seems, confined to the Germans. We heard months ago about a similar probe into Mitsubishi, and yesterday we...more
Eye on the Courts—Recent Opinions and Rulings of Note - Why it matters: From a white collar and securities fraud standpoint, there has been a lot of noteworthy activity in the courts of late. The Supreme Court granted...more
Deutsche Bank paid $2.519 billion in fines and disgorgement, a subsidiary pleaded guilty to criminal charges and the parent entered into a three year deferred prosecution agreement which requires a monitor to resolve charges...more