Topic: Spoofing

Latest DPAs increase focus on compliance data

The US Department of Justice has added new compliance language into deferred prosecution agreements that focuses on data analytics. “It’s a bigger lift for some companies than others,” said one corporate defence lawyer.

01 October 2020

Jurors convicted ex-Deutsche Bank traders of spoofing after sudden turnaround

In the days leading up to the conviction of former Deutsche Bank traders James Vorley and Cédric Chanu over a market manipulation scheme, jurors on multiple occasions told the judge they were deadlocked while defence lawyers made several attempts to end the case with a mistrial.

30 September 2020

US hands JPMorgan largest ever spoofing penalty

The DOJ said that the bank did not need a monitor owing to its substantial cooperation and remediation – which included the hiring of hundreds of compliance staff.

29 September 2020

Conviction of ex-Deutsche Bank traders marks shift in US spoofing prosecutions

A Chicago federal jury has convicted two former Deutsche Bank traders over a spoofing scheme in a landmark case that showcased US prosecutors’ revised approach to crack down on the market manipulation practice.

28 September 2020

SDNY and EDNY prosecutors prepare to resume jury trials

Criminal division chiefs in both Manhattan and Brooklyn walked through preparations to resume jury trials next month amid coronavirus restrictions. Meanwhile, a Second Circuit judge predicted that there could be a spike in bench trials.

23 September 2020

Ex-DOJ fraud section chief joins Morgan Lewis

Morgan Lewis has hired Sandra Moser, who rose to the head of the Justice Department’s fraud section, from Quinn Emanuel.

02 September 2020

Former prosecutor: Fraud Section position on MLATs undermines its mandate

The Fraud Section’s defence against allegations of prosecutorial misconduct in foreign legal assistance requests compromises its argument to support wire fraud charges in current and future cases, a former prosecutor said.

19 June 2020

Deutsche Bank resolves US spoofing and swap reporting probes

The US Commodities and Futures Trading Commission said that it significantly reduced the penalties due to the bank’s cooperation in both investigations.

18 June 2020

Fraud section chief unravels thorny ethical issues

“Sometimes it will break your heart when your cooperating witness is getting sued by the bad guy, and so on a human level I really feel for them,” said Criminal Division fraud section chief Robert Zink.

03 June 2020

Former JPMorgan trader asks to be severed from spoofing trial

An ex-JPMorgan trader has attempted to distance himself from racketeering conspiracy allegations facing three of his former colleagues in an ongoing market manipulation case.

28 May 2020

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