Investigators with the U.S. Department of Justice reportedly are investigating energy pricing benchmarks published by Platts, targeting suspected manipulation of deal prices provided by individual traders. According to...more
In the last five years, the Justice Department and the Commodities Futures Trading Commission have aggressively prosecuted “spoofing” cases. While the government’s record in these cases has been mixed, the government has...more
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
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
The Department of Justice unsealed criminal charges against a U.K. trader who is alleged to have contributed to the flash crash almost five years ago. The trader is alleged to have manipulated the market for certain...more
Navinder Singh Sarao, a London-based trader, was arrested at his home in the United Kingdom on April 21, 2015, and accused by both the US Commodity Futures Trading Commission and the US Department of Justice of engaging in...more
Almost five years ago the Dow Jones Industrial Average dropped about 600 points in five minutes, creating chaos in the markets and huge losses for many. The market debacle became known as the flash crash. The causes were...more