If this is not some nasty and quite early April Fool's joke, this is very, very bad news for JPMorgan:
- BN CFTC CHILTON MAKES STATEMENT ON SILVER MARKET
- BN * SILVER PRICES SUBJECT TO "FRAUDULENT" INFLUENCES, CHILTON SAY
- BN *"REPEATED ATTEMPTS" MADE TO INFLUENCE SILVER MARKET, CHILTON
- BN *SILVER MANIPULATION SHOULD BE PROSECUTED, CHILTON SAYS
Now... where are all of those tin foil hats...
The below has just appeared on Reuters. It seems the CFTC has its cross sights on quote stuffers. It is about damn time.
The U.S. futures regulator laid out plans on Tuesday for how it could use new and beefed-up legal tools to foil traders who seek to manipulate prices or defraud investors.
The Commodity Futures Trading Commission said it also wants to ask for comments on whether to crack down on certain practices used by high-frequency traders -- such as "quote-stuffing" -- but it stopped short of immediately proposing new rules specifically aimed at algorithmic trading. (more)
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