Very interesting!
http://www.cftc.gov/PressRoom/PressReleases/pr7681-18#PrRoWMBL
Small snippet from the press release!
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CFTC Files Eight Anti-Spoofing Enforcement Actions against Three Banks (Deutsche Bank, HSBC & UBS) & Six Individuals Press Releases - CFTC
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- Deutsche Bank
The CFTC today issued an Order filing and settling charges against Deutsche Bank AG (DB AG) and Deutsche Bank Securities Inc. (DBSI) (collectively, DB), requiring DB to pay a $30 million civil monetary penalty and to undertake remedial relief. The Order finds that from at least February 2008 and continuing through at least September 2014, DB AG, by and through certain precious metals traders (Traders), engaged in a scheme to manipulate the price of precious metals futures contracts by utilizing a variety of manual spoofing techniques with respect to precious metals futures contracts traded on the Commodity Exchange, Inc. (COMEX), and by trading in a manner to trigger customer stop-loss orders.
Would be interesting to see if there are also price manipulation here in Gold stocks! (I'm looking at you ASIC)
Given we know that POG affects price of mining stocks - how does it work on a class action basis against those traders and banks? (just out of curiosity)
- Forums
- ASX - By Stock
- Gold Market Manipulation
Very interesting!...
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