{"id":2052,"date":"2018-01-29T16:20:01","date_gmt":"2018-01-29T22:20:01","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=2052"},"modified":"2022-03-22T15:23:37","modified_gmt":"2022-03-22T20:23:37","slug":"deutsche-bank-ubs-hsbc-securities-settle-respective-spoofing-cases-cftc-46-6m","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/deutsche-bank-ubs-hsbc-securities-settle-respective-spoofing-cases-cftc-46-6m\/","title":{"rendered":"Deutsche Bank, UBS, and HSBC Securities Settle Respective Spoofing Cases with the CFTC for $46.6M"},"content":{"rendered":"

\t\t\t\tDeutsche Bank Securities Inc. and Deutsche Bank AG (DB) will pay a $30M civil penalty to resolve charges brought by the Commodity Futures Trading Commission accusing them of spoofing. According to the regulator, from at least 2\/2008 through 9\/2014, DB AG, with the help of a number of precious metal traders, sought to rig the price of precious metals futures contracts that were traded on the Commodity Exchange, Inc.<\/p>\n

The CFTC\u2019s order said that the traders worked alone and with each other to buy or sell these contracts while planning all along to cancel them before they were executed after a smaller offer was made on the opposite side of the market. The spoof orders were purportedly made to give the impression of market depth in order to generate trading interest.<\/p>\n

The regulator found that through the traders\u2019 actions, Deutsche Bank AG sought to not only rig the price of precious metals futures contracts but also to profit from these manipulations. The CFTC said the firm worked with one trader in Singapore who made orders and trades to “trigger customer stop-loss orders.”<\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Deutsche Bank Securities Inc. and Deutsche Bank AG (DB) will pay a $30M civil penalty to resolve charges brought by the Commodity Futures Trading Commission accusing them of spoofing. According to the regulator, from at least 2\/2008 through 9\/2014, DB AG, with the help of a number of precious metal traders, sought to rig the […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3810,3818,3967,3752,3741,3755],"tags":[2817,2742],"class_list":["post-2052","post","type-post","status-publish","format-standard","hentry","category-cftc","category-deutsche-bank","category-failure-to-supervise","category-financial-firms","category-securities-fraud","category-ubs","tag-hsbc","tag-spoofing"],"yoast_head":"\nDeutsche Bank, UBS, and HSBC Securities Settle Respective Spoofing Cases with the CFTC for $46.6M — Investor Lawyers Blog — January 29, 2018<\/title>\n<meta name=\"description\" content=\"Deutsche Bank Securities Inc will pay a $30M civil penalty to resolve charges brought by the Commodity 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