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CFTC's Troubling Price Manipulation Claims Against Statoil

Law360, New York (November 27, 2017, 11:59 AM EST) -- On Nov. 14, 2017, the U.S. Commodity Futures Trading Commission issued an order accepting the settlement offer of, and imposing sanctions against, Statoil ASA for attempted manipulation in the propane markets.[1] The commission found that Statoil traded propane during the pricing window of the Argus Far East Index in order to benefit Statoil’s financial and physical positions that settled against the Argus FEI. The order imposed a $4 million civil monetary penalty against Statoil and ordered Statoil to cease and desist from violating Section 9a(2) of the...
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