Deutsche Bank, UBS, HSBC to pay $46.6 million to settle CFTC 'spoofing' charges
( January 29, 2018, 19:08 GMT | Official Statement) -- MLex Summary: The US Commodity Futures Trading Commission said three European-based banks agreed to pay a total of $46.6 million to settle charges that they tried to manipulate the price of precious metals futures contracts traded on the Commodity Exchange. Deutsche Bank agreed to pay $30 million, UBS $15 million and HSBC $1.6 million to settle the commodity fraud charges, the CFTC said in conjunction with the US Department of Justice and FBI. Six individuals also were charged in federal court in connection with the alleged fraud. Spoofing consists of posting an electronic bid or offer with the intent to cancel before the trade is executed.Statement follows in full. ...
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