Topic: Spoofing

Deutsche Bank to pay $130 million to settle DOJ, SEC investigations

German lender Deutsche Bank has agreed to pay over $130 million to resolve foreign bribery and spoofing charges.

08 January 2021

Ex-Deutsche Bank traders request new trial citing post-conviction disclosures

08 December 2020

Ex-Deutsche Bank traders challenge DOJ’s spoofing loss calculations

Two convicted former traders say a new method used by the DOJ to calculate losses caused by spoofing may dramatically increase their potential sentences.

26 November 2020

Ex-Deutsche Bank traders criticise “inflammatory” evidence in attempt to overturn spoofing convictions

James Vorley and Cédric Chanu have cited failure to prove their intent, controversial evidence and coercion from the judge as reasons why they should be acquitted or granted a retrial.

16 November 2020

CFTC records another year of aggressive spoofing enforcement

The US commodities regulator almost equalled its annual record for the number of penalties it handed down for market manipulation in the past year.

15 October 2020

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

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