Citigroup traders Stephen Gola and Jonathan Brims banned 6 months and fined for US Treasury spoofing LeapRate

March 30, 2017 BY LeapRate Staff

Citigroup traders Stephen Gola and Jonathan Brims banned 6 months and fined for US Treasury spoofing

The U.S. Commodity Futures Trading Commission (CFTC) today issued two separate Orders filing and settling charges against Stephen Gola and Jonathan Brims for spoofing — bidding or offering with the intent to cancel the bid or offer before execution — in U.S. Treasury futures markets while trading for the Citigroup Global Markets Inc. unit of…

December 21, 2016 BY admin

Chicago man and 3Red Trading penalized $2.5M for spoofing and manipulation while trading futures

The U.S. Commodity Futures Trading Commission (CFTC) today announced that Judge Amy J. St. Eve of the U.S. District Court for the Northern District of Illinois entered a Consent Order of Permanent Injunction (Order) against Defendants Igor B. Oystacher and his proprietary trading company, 3Red Trading LLC (3Red), both of Chicago, Illinois, finding that the Defendants engaged in a…

November 21, 2016 BY LeapRate Staff

CFTC reports more than $1.2 billion in fines and restitution in Fiscal 2016

US financial regulator the CFTC has issued a summary of its activity for its 2016 fiscal year (which ended September 30), indicating among other things that it more than pays for itself. The CFTC collected and deposited at the U.S. Treasury over $484 million in civil monetary penalties during the year, nearly double the CFTC’s operating…

July 12, 2016 BY LeapRate Staff

Bats unveils its own (non-incentive based) whistleblower Community Policing Program

The Bats Community Policing Program establishes a “Walking the Beat” process of engaging directly with the trading community.

February 23, 2016 BY Mike Fox

Bats receives SEC approval for client suspension rule to prohibit manipulative behavior

Bats Global Markets (Bats) received Securities and Exchange Commission approval of the Bats Client Suspension Rule, assisting the company in taking swifter action to prohibit manipulative behavior, such as spoofing and layering, on the Bats Exchanges. The Rule, which was approved February 18th, distinguishes itself by specifically addressing disruptive quoting and trading practices, such as…

December 03, 2015 BY LeapRate Staff

SEC charges twin brothers with fraud for options trading Spoofing and order mismarking

The US Securities and Exchange Commission (SEC) today announced fraud charges against three Chicago-based traders accused of circumventing market structure rules in a pair of options trading schemes. The SEC alleges that twin brothers Behruz Afshar and Shahryar Afshar and their friend and former broker Richard Kenny mismarked option orders to obtain execution priority and…

July 31, 2015 BY Maria Nikolova

BATS proposes Client Suspension Rule for swifter action against market manipulation

The company has filed a new rule with the Securities and Exchange Commission, in order to be allowed to take faster action against traders engaged in practices like spoofing and layering.

May 14, 2015 BY Andrew Saks-McLeod

Flash crash trader made £27 million by spoofing - now the taxpayer will pick up his legal bill

Navinder Singh Sarao made £27 million by using spoofing and layering techniques whilst executing orders on North American electronic venues, all from his innocuous home in Hounslow. Now, the British government has granted him legal aid - funded by the taxpayer - to fight his legal battle

April 22, 2015 BY Andrew Saks-McLeod

Could one man cause 2010 flash crash from his living room in Hounslow?

From his innocuous semi-detached house in Hounslow, West London, Navinder Singh Sarao is alleged to have raked in £27 million by spoofing and layering, and being a major contributor to the 2010 flash crash. He now awaits extradition to the United States to face trial

Tag: spoofing

Citigroup traders Stephen Gola and Jonathan Brims banned 6 months and fined for US Treasury spoofing

Chicago man and 3Red Trading penalized $2.5M for spoofing and manipulation while trading futures

CFTC reports more than $1.2 billion in fines and restitution in Fiscal 2016

Bats unveils its own (non-incentive based) whistleblower Community Policing Program

Bats receives SEC approval for client suspension rule to prohibit manipulative behavior

SEC charges twin brothers with fraud for options trading Spoofing and order mismarking

BATS proposes Client Suspension Rule for swifter action against market manipulation

Flash crash trader made £27 million by spoofing - now the taxpayer will pick up his legal bill

Could one man cause 2010 flash crash from his living room in Hounslow?

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