Bridging the Week by Gary DeWaal: June 13 to 17 and 20, 2016 (Who’s a Customer?; Front-Running; Spoofing; Block Trades; Red Flags)

Published Date: June 20, 2016

Last week, the Securities and Exchange Commission overturned a decision of the Chicago Board Options Exchange in a disciplinary matter that had fined a broker-dealer and two principals US $1 million for not applying customer identification and margin requirements to traders of two omnibus customers. The SEC said CBOE misunderstood who the broker-dealer’s customers were. Separately, a trader was sanctioned over US $3 million by the New York Mercantile Exchange for trading on his employer’s confidential information to the detriment of his employer; while the Commodity Futures Trading Commission submitted papers in an enforcement action in a Chicago federal court arguing that the definition of spoofing under US futures law is clear. But is it? As a result, the following matters are covered in this week’s edition of Bridging the Week:

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ABOUT GARY DEWAAL

Gary DeWaal

Gary DeWaal is currently Special Counsel with Katten Muchin Rosenman LLP in its New York office focusing on financial services regulatory matters. He provides advisory services and assists with investigations and litigation.


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ABOUT KATTEN

Katten is a firm of first choice for clients seeking sophisticated, high-value legal services in the United States and abroad.

Our nationally recognized practices include corporate, financial services, litigation, real estate, environmental, commercial finance, insolvency and restructuring, intellectual property, and trusts and estates.

Our approximately 650 attorneys serve public and private companies, including nearly half of the Fortune 100, as well as a number of government and nonprofit organizations and individuals.

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Gary DeWaal
Katten Muchin Rosenman LLP
575 Madison Avenue
New York, NY 10022-2585

+1.212.940.6558




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