Watchdogs Taking Hard Look At Commodities Manipulation

Law360, New York (July 30, 2013, 3:45 PM EDT) -- The U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission are considering regulatory responses to potential market manipulation in commodities by major banks, the agencies’ chiefs told a Senate banking panel Tuesday.

SEC Chairman Mary Jo White told the Senate’s Committee on Banking, Housing and Urban Affairs that she had directed agency attorneys to address whether to change insider trading rules on commodities to prevent price manipulations, after revelations that bank-owned oil tanking and metals companies may be restricting supplies to inflate prices....
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