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                  • May 10, 2019

                    SDNY Allows NYDFS to Pursue FinTech Charter Lawsuit against OCC

                    The U.S. District Court for the Southern District of New York denied the Office of the Comptroller of the Currency’s motion to dismiss a lawsuit that challenged the OCC’s authority to issue "FinTech" charters under the National Bank Act.
                    Scott.Cammarn@cwt.com's picture
                    Commentary by Scott Cammarn
                  • February 07, 2019

                    U.S. District Court Orders Former Precious Metals Trader to Pay Penalty for Spoofing

                    The U.S. District Court for the District of Connecticut ordered a former precious metals trader to pay a civil monetary penalty for placing orders with the intention of canceling them prior to execution.
                    bzwirb's picture
                    Commentary by Bob Zwirb
                  • December 03, 2018

                    Court Rules against CFTC, Says Defendants Better Understood Product and Market Values

                    The U.S. District Court for the Southern District of New York determined that the CFTC failed to prove that a Chicago trader and his firm had either manipulated or attempted to manipulate the price of certain interest rate swaps.
                    bzwirb's picture
                    Commentary by Bob Zwirb
                  • November 16, 2018

                    Two Former Traders Argue That Alleged Spoofing Scheme Did Not Constitute Wire Fraud

                    Two former commodities traders moved to dismiss an indictment, arguing that the government cannot prosecute spoofing under the wire fraud statute.
                    bzwirb's picture
                    Commentary by Bob Zwirb
                  • November 02, 2018

                    District Court Rules CBOT and CME Not Guilty of Anticompetitive Conduct

                    A U.S. District Court ruled in favor of the Board of Trade of the City of Chicago, Inc. and Chicago Mercantile Exchange, Inc. from allegations that they conspired to stop the CFTC from approving the application of a competing exchange.
                    bzwirb's picture
                    Commentary by Bob Zwirb
                  • October 26, 2018

                    Jury Finds Three FX Traders Not Guilty of FX-Rigging Conspiracy

                    The U.S. District Court for the Southern District of New York acquitted three foreign exchange traders on charges of conspiracy to manipulate benchmark currency rates after a jury determination.
                  • September 27, 2018

                    Federal District Court Confirms that Cryptocurrencies are "Commodities" under CFTC Jurisdiction

                    The U.S. District Court for the District of Massachusetts ruled that cryptocurrencies fall within the definition of a "commodity" under the Commodity Exchange Act.
                  • July 19, 2018

                    District Court Imposes Penalty on Two Foreign "Prediction Market" Companies for Violating CFTC Trading Ban

                    The U.S. District Court for the District of Columbia ordered two Ireland-based companies that operate an online "prediction market" trading website to pay a $3 million penalty for violating a 2005 cease and desist order and illegally trading binary options.
                    bzwirb's picture
                    Commentary by Bob Zwirb
                  • June 21, 2018

                    Federal Judge Determines that the CFPB Is "Unconstitutionally Structured"

                    The U.S. District Court for the Southern District of New York determined that the Consumer Financial Protection Bureau "lacks the authority to bring claims" because it is "unconstitutionally structured."
                    Steven.Lofchie@cwt.com's picture
                    Commentary by Steven Lofchie
                  • March 30, 2018

                    Bank Agrees to Pay Settlement to End LIBOR Manipulation Case

                    A bank agreed to pay $100 million to settle a class action lawsuit concerning charges of LIBOR manipulation.
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