The U.S. Commodity Futures Trading Commission took a Chicago-based trading firm and its prominent founder to trial on Thursday over claims they manipulated the price of a futures contract, illegally earning nearly $13.5 million.
Regulatory actions taken around the industry.
A while back we talked about a lawsuit in which Chicago proprietary trading firm DRW Investments LLC had sued the Commodity Futures Regulatory Commission because it was afraid that the CFTC was going to sue it for market manipulation and, apparently, thought there was a rule that whoever sues first wins. Nope, not a rule.