CFTC Strikes Spoofing Settlement With Chicago Trading Firm
Law360 (September 30, 2020, 5:40 PM EDT) -- A Chicago firm and three traders agreed to pay $745,000 in fines to settle a federal regulator's claims of spoofing across four exchanges in metals and agricultural futures contracts, officials said Wednesday.
The U.S. Commodity Futures Trading Commission alleged ARB Trading Group LP and traders Brendan Delovitch, Wesley Johnson and Rajeev Kansal engaged in spoofing, or the practice of bidding or offering while intending to cancel that bid or offer before it can be executed.
They spoofed in the lean hogs and live cattle futures contracts traded on the Chicago Mercantile Exchange, silver and copper futures contracts traded on the Commodity...
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