Bridging the Week by Gary DeWaal: September 19 to 23 and September 26, 2016 (Supervision; Block Trades; EFRPs; Independence; Tag 50s; Insider Trading)

Published Date: September 26, 2016

A futures commission merchant and its chief executive and chief risk officers were sued by the Commodity Futures Trading Commission for the firm's alleged failure to adequately respond to three exchanges’ inquiries related to a customer’s purported spoofing activities, as well as its failure to follow its own risk management policies. Additionally, a Russia-based bank and its UK subsidiary were charged by the CFTC with engaging in illicit futures block trades because their prices were purportedly not fair and reasonable. However, the prices of the block trades were mostly chosen at the midpoint of the prevailing bid-ask spread of the corresponding swaps contract at a time when the relevant futures market was apparently illiquid. Huh? As a result, the following matters are covered in this week’s edition of Bridging the Week:

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Gary DeWaal

Gary DeWaal is currently Special Counsel with Katten Muchin Rosenman LLP in its New York office focusing on financial services regulatory matters. He provides advisory services and assists with investigations and litigation.

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Gary DeWaal
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