Allison Lurton, Chief Legal Officer and General Counsel for FIA, was joined by two lawyers from the law firm Faegre Drinker, James Ludy and Nicholas Wendland, on Thursday morning at FIA Expo for the inevitable panel on spoofing. This one came with a refreshing twist -...
This week on The Spread – election volatility makes options more expensive, the CME has a COVID scare, and more.
Photo by Lucas Benjamin on Unsplash JPMorgan Chase and Co has agreed to pay the U.S. government $920 million in fines and disgorgement to settle spoofing charges. It is the largest payment ever agreed to by a defendant to settle a futures market manipulation charge. ...
A COVID-19 depleted jury returned unanimous verdicts for each of the 17 counts in the criminal spoofing case brought against two former Deutsche Bank traders, James Vorley and Cedric Chanu. The decisions by the eleven jurors were announced late on Friday afternoon at...
JPMorgan Is Set to Pay $1 Billion in Record Spoofing Penalty; Westpac, one of Australia’s largest banks, hit with record $920 million penalty over money laundering scandal
On Tuesday, the defense finished cross examining the FBI special agent, the prosecution rested its case, defense declined to offer witnesses, prosecution made its closing arguments, defense made its closing arguments, Judge Tharp instructed the jury and the jury began deliberating the fates of James Vorley and Cedric Chanu.
Another day of methodical testimony unfolded in Judge John Tharp’s federal courtroom on Wednesday, the second day of testimony in the case of the Department of Justice versus James Vorley and Cedric Chancu.
The Department of Justice announced on Wednesday that it was settling its criminal spoofing case against the Bank of Nova Scotia for its role in a “. . . massive price manipulation scheme aimed at falsely manufacturing the prices of precious metals futures contracts ....
Stepping away from the increasingly settled legal issues around spoofing, we see that business ethicists are also addressing the moral and economic dimensions of spoofing. When we spoke to market participants and experts, defendants of spoofing often analogized it to other trading practices or strategies that are admittedly deceptive.
First Read ++++ Ceres Hit Hard By Restaurant Ban Thom Thompson - JLN The popular restaurant in the Chicago Board of Trade's Jackson Street Lobby closed Monday afternoon in response to the Illinois governor's restrictions on restaurants and bars...
Navinder Singh Sarao escaped possible detention in a U.S. prison for anywhere from 78 to 97 months when he was sentenced yesterday in Chicago to one year of detention to be served at his parents’ home in Hounslow, west London. The term of the sentence begins today.
Navinder Sarao pleaded guilty to roughly $13 million worth of spoofing on his first visit to the United States in November 2016. Wearing leg irons and an orange prison jumpsuit in a Chicago federal court, Sarao was freed on bail pending final sentencing, which occurs today, January 28, 2020.
This Tuesday afternoon, Navinder Singh Sarao will be sentenced by Virginia M. Kendall, U.S. Judge of the United States District Court for the Northern District of Illinois.
JLN FIA EXPO 2019 Industry Leader SeriesAt FIA Expo 2019, TT's Rick Lane tells JLN that the Jitesh Thakkar case has already added cost to running businesses like TT. Tech firms have to invest in making sure that when they build bespoke solutions for...
First Read $29,776/$300,000 (9.9%) ++++ ++++ Hits & Takes John Lothian & JLN Staff Maureen Downs has been re-elected as the chair of the NFA Board of Directors. Also, Don Thompson of JP Morgan is to serve as vice chair. Also, elected to two-year terms as...
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