Will CFTC's new powers lead to more market manipulation cases?
Law and order
America’s top cop for energy derivatives, the US Commodity Futures Trading Commission, has a spotty track record of catching market manipulators. In its nearly four-decade history, the CFTC has successfully prosecuted only one manipulation case; many more have ended in settlements, with no admission of wrongdoing and financial penalties rarely larger than $20 million.
Perhaps that is all well and just. Traders argue that truly manipulative schemes – such as the Hunt brothers’ infamous plot to
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