Spoofing Sentence Sends Clear Enforcement Message

Law360, New York (July 13, 2016, 3:50 PM EDT) -- Clifford C. Histed

Michael D. Ricciuti On July 13, 2016, U.S. District Judge Harry D. Leinenweber in Chicago sentenced Michael Coscia, the first trader charged with criminal "spoofing," to three years in prison. Much has been written about this case, and the public debate has been just as intense as the litigation. In April 2015, we wrote about Judge Leinenweber's denial of Coscia's motion to dismiss his indictment, examined what guidance about spoofing could be gleaned from regulators, broke down the allegations in the indictment, and offered recommendations for traders going forward. Here, we revisit some of these topics in the context...

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