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UBS to pay $15M for attempted precious-metals futures manipulation/spoofing

Published 08/28/2018, 05:13 PM
© Reuters.  UBS to pay $15M for attempted precious-metals futures manipulation/spoofing
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  • UBS (NYSE:UBS) to pay $15M civil penalty to settle charges that it tried to manipulate the price of precious metals futures contracts, the Commodity Futures Trading Commission says.
  • From January 2008 through at least December 2013, some UBS precious metals traders used a number of manual spoofing techniques with respect to precious metals futures contracts traded on the Commodity Exchange Inc., including gold and silver, to trigger customer stop-loss orders.
  • The case resulted in a substantially reduced penalty for UBS because the company participated in the CFTC's self-reporting and cooperation program.
  • Previously: Deutsche Bank (DE:DBKGn) to pay $70M to settle ISDAFIX manipulation case (Aug. 28)
  • Now read: How To Retire Comfortably By 62 With A Million


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