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:
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.
June 19, 2016
June 12, 2016
June 05, 2016
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