Just heard someone else win a conviction on something.
Like new things you can call insider trading, dark pools, daily fantasy sports and Martin Shkreli before it, it has come to New York Attorney General Eric Schneiderman’s notice that other law-enforcement personalities are getting headlines and winning scalps by going after spoofing. And as with those other things, Eric Schneiderman doesn’t mind giving it a try himself.
New York’s top cop, Eric Schneiderman, has sought to expand his oversight over financial markets, targeting allegedly unfair practices in the U.S. stock market over the past year. In the latest investigation, his office has sent subpoenas for records to interdealer brokers including TFS-ICAP, Tullett Prebon Plc, BGC Partners Inc. and GFI Group Inc., the person said….
The investigation, still in its early stages, is examining whether fake bids and offers in FX options were posted on the electronic trading platforms hosted by the interdealer brokers, in order to ramp up interest from options traders in largely illiquid emerging-market currencies, according to the person familiar with the investigation.