Commodity Futures Trading Commission news stories on Newser

JPMorgan Pays $20M Slap on Wrist Over Lehman

Kevin Spak — Wed, 04 Apr 2012 11:30:37 CDT

Federal regulators have filed their first action related to the momentous, crisis-sparking collapse of Lehman Brothers, but it won't amount to much. The Commodity Futures Trading Commission today filed a civil case against JPMorgan Chase, accusing it of overextending credit to Lehman, the New York Times reports. But JPMorgan settled...

MF Global's Final Days Look Even Shadier Now

Kevin Spak — Tue, 15 Nov 2011 16:20:41 CST

MF Global’s client accounts may have come up hundreds of millions of dollars short a full four days before the company filed for bankruptcy—and before it notified regulators or anyone else of the problem, sources tell the Wall Street Journal . When the firm filed for bankruptcy on Oct. 31,...

FBI Investigating MF Global's Missing Cash

Kevin Spak — Wed, 02 Nov 2011 08:46:51 CDT

For some mysterious reason (hint, it’s the missing $700 million ), the FBI and the Commodity Futures Trading Commission are taking a keen interest in MF Global’s collapse. The Bureau is investigating to see if client funds are intact, sources tell the Wall Street Journal , and the CFTC has voted...

Regulate, Baby, Regulate; Drilling Won't Solve Much

Jane Yager — Wed, 07 Apr 2010 08:30:33 CDT

President Obama's decision to open up new offshore drilling was a brilliant political move that may or may not harm the environment, Thomas Frank writes in the Wall Street Journal. But if Obama wants to avoid a repeat of the oil price crisis of 2008—that which fueled the "drill...

Feds Consider Limits on Oil, Energy Speculation

Nick McMaster — Tue, 07 Jul 2009 14:54:01 CDT

Federal regulators may impose new limits on the amount of energy-futures contracts that speculators can buy, the New York Times reports, an attempt to curb severe price fluctuations in commodities like oil and natural gas. Oil prices swung from $145 per barrel last summer to $33 in December, movement some...

Obama Wants to Tame Wild Derivatives Market

John Johnson — Wed, 13 May 2009 16:00:02 CDT

President Obama wants to put the so-called dark markets under control, the New York Times reports, seeking congressional approval to regulate the byzantine world of derivatives trading—which played a large role in the current financial mess. In a letter to lawmakers, Treasury chief Timothy Geithner calls for an oversight...

Feds Think Bad Data May Feed Oil Spikes

Jim O'Neill — Thu, 04 Sep 2008 10:01:38 CDT

Commodity regulators, worried that some companies are manipulating crude oil prices by reporting false numbers on supplies and sales, are conducting a wide-ranging probe focused on energy traders, the Wall Street Journal reports. Sources say a big worry is that firms are falsely reporting oil inventories to create the perception...

As Prices Soar, Congress Aims at Speculators

Kevin Spak — Fri, 13 Jun 2008 08:30:04 CDT

Congress is blaming rampant commodity speculation for rocketing gas and food prices, and berating regulators for letting it happen, the New York Times reports. Unless watchdog groups like the Commodities Futures Trading Commision crack down, Carl Levin says, "we don’t have a cop on the beat.." Joe Lieberman has even...

Feds Hunt for Scams in Crude Oil Trading

Peter Fearon — Fri, 30 May 2008 07:55:11 CDT

Federal regulators are investigating whether rocketing oil prices are being driven up by speculators manipulating futures markets, reports the Wall Street Journal. The nationwide probe involves several separate investigations. Authorities suspect that a widely used price reporting system may be artificially influenced and that some oil storage facilities may be...