What Your Firm, Traders, Supervisors and Vendors Need to Know about Spoofing

Partner Jim Lundy and counsel Nicholas Wendland are speaking on “What Your Firm, Traders, Supervisors and Vendors Need to Know about Spoofing” on Thursday, November 12, 2020, at FIA’S annual conference.

In 2020, the Commodity Futures Trading Commission filed more enforcement actions than in any other year in its history, including a record-breaking settlement of $920 million for spoofing. This penalty is the largest monetary relief in the agency’s history. Spoofing remains a top priority for the CFTC, and the commission has demonstrated its intent to aggressively pursue market participants who engage in this activity.

• What is spoofing, and what are the obligations for firms, traders, supervisors, compliance professionals, and software developers in detecting and preventing it?
• How can firms train staff to understand the spoofing prohibitions and lessen the risk of fines and penalties?

This session will explore all things spoofing, lessons learned to date, and how best to apply those lessons to manage and minimize regulatory and enforcement risk.