Analysis

7th Circ. Spoofing Decision Buoys Gov't Crackdown

Law360, New York (August 8, 2017, 8:39 PM EDT) -- The Seventh Circuit’s unanimous decision Monday to uphold the conviction of Michael Coscia for a market manipulation tactic known as “spoofing” is a landmark ruling that removes questions about the constitutionality of the law banning such conduct, strengthening government efforts to crack down on the practice, experts said Tuesday.

By affirming Coscia’s conviction, the Seventh Circuit became the first federal appellate court to provide guidance on the crime, which is a violation of the Dodd‐Frank Wall Street Reform and Consumer Protection Act of 2010. The post-financial crisis...
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