Alleging charges of commodities fraud and spoofing, the Commodity Futures Trading Commission recently issued criminal and civil enforcement actions against three banks and six individuals, in conjunction with the Department of Justice and Federal Bureau of Investigation’s Criminal Investigative Division.
Consent orders issued to Deutsche Bank, UBS and HSBC direct the companies to pay a total of nearly $47 million in civil monetary penalties.
Find out more about what practices were deemed illegal under federal laws prohibiting spoofing.