CFTC Announces Record $630M In Fines For 2008

Law360, New York (October 2, 2008, 12:00 AM EDT) -- The U.S. Commodity Futures Trading Commission secured a record $630 million in civil monetary penalties from defendants in fraud and market manipulation actions in the 2008 fiscal year, the agency said Thursday.

In its roundup for the fiscal year, which ended Sept. 30, the CFTC announced that its enforcement division had filed 40 new actions, including 13 against hedge funds, commodity pool operators or trading advisers.

The agency filed another two cases alleging manipulation or attempted manipulation by a former gas trader at BP Products North...
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