Deutsche Bank, UBS, HSBC and 6 individuals charged over ‘spoofing’ metals prices

The Commodity Futures Trading Commission, Justice Department and Federal Bureau of Investigation announced criminal and civil enforcement actions against divisions of Deutsche Bank , HSBC Holdings and UBS and six individuals over alleged spoofing to manipulate metals futures prices. Deutsche Bank agreed to pay a $30 million civil monetary penalty, UBS agreed to pay a $15 million civil monetary penalty and HSBC agreed to pay a civil monetary penalty of $1.6 million. The CFTC said in accepting HSBC’s settlement, it “recognizes the bank’s cooperation during the Division of Enforcement’s investigation of this matter.”

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From:: Stock Market News

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