Spoofing, Surveillance, & Supervision
Chicago partner Jim Lundy and counsel Nicholas Wendland, along with Jay Biondo of Trading Technologies, co-authored “Spoofing, Surveillance, & Supervision” for the National Society of Compliance Professionals’ May edition of Currents.
For the past few years, the U.S. Commodity Futures Trading Commission (CFTC) and Department of Justice (DOJ) have accelerated their aggressive efforts in pursing spoofing cases against traders. The CFTC also expanded its efforts and strategies regarding spoofing enforcement to focus on firms failing to supervise their traders who engage in spoofing. Jim, Nicholas, and Jay analyze the CFTC’s enforcement efforts and the interplay of spoofing, surveillance and supervision.
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