Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
In June 2018, we published an article discussing the government’s efforts to prosecute defendants who engage in a form of trading activity on commodity futures exchanges known as “spoofing,” which the law defines as “bidding or offering with the intent to cancel the bid or offer before execution.” See, Jodi Misher Peikin & Brent M. Tunis, “When Is a Bid or Offer a ‘Spoof’?,” Business Crimes Bulletin (June 2018). In that article, we observed that the failure of the Commodity Futures Trading Commission (CFTC) to define what specific conduct qualifies as spoofing has left market participants uncertain about when cancellation of a bid or offer crosses the line from an acceptable trading strategy to an illegal “spoof.” This ambiguity is compounded by the fact that rapid cancellation of orders is prevalent in the commodities markets. See, Richard Haynes & John S. Roberts, CFTC, “Automated Trading in Futures Markets” at 9 (2015) (“[J]ust over 50 percent of market orders are cancelled within half a second, approximately the speed of human reaction.”).
Continue reading by getting
started with a subscription.
By Harry Sandick and Sarah Hardtke
The guidance mirrors the recent, broader impulse among U.S. prosecutors and regulatory agencies to extend application of U.S. law to foreign persons and entities, even when those persons and entities have only threadbare connections to the U.S.
By Jonathan B. New, Patrick T. Campbell and Rachel H. Ofori
Because PR firms may be considered third parties for privilege purposes, it is crucial that communications between a company’s counsel and its PR firm are handled with care to avoid waiving the attorney-client privilege.
Navigating the SEC’s New Cybersecurity Disclosure Rules
By Olivia J. Greer, Catherine Kim and Jeeyoon Chung
With the first cybersecurity rule for public companies, and the landscape of ongoing scrutiny and enforcement, SEC registrants should not lose time in reviewing their cybersecurity postures and policies to ensure compliance and, even ahead of formal adoption of certain still-pending rules, align with best practices.
Understanding the Difference Between Advocacy and Obstruction When Facing Government Investigations
By Christopher D. Carusone
Corporate counsel must understand the difference between advocacy and obstruction when facing government investigations.