Bridging the Week by Gary DeWaal: August 12 - 16, and August 19, 2019 (Manipulation Settlement; CFTC Gag Agreement; Digital Securities Offering)

Published Date: August 19, 2019

Two food giants agreed to resolve charges brought by the Commodity Futures Trading Commission that they manipulated or attempted to manipulate prices of the Chicago Board of Trade’s December 2011 wheat futures contract and spot wheat by consenting to pay a US $16 million fine and agreeing never to violate certain provisions of law in the future. Very unusually, the CFTC did not include any findings of fact or conclusions of law in the consent order, and separately agreed not to discuss this case publicly. However, concurrently with publicizing the consent order, the CFTC published a press release and certain statements that the food giants promptly challenged as violating the terms of the order. Separately, the Securities and Exchange Commission resolved an enforcement action against a healthcare industry blockchain company over a purported unregistered digital securities offering. As a result, the following matters are covered in this week’s edition of Bridging the Week

The next regularly scheduled edition of Bridging the Week will be September 9, 2019.

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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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