A New York trader agreed to pay $200,000 to settle a Wall Street regulator’s allegations that he engaged in phony US Treasury futures trades through a “spoofing” scheme.
Sidney Lebental agreed to the US Commodity Futures Trading Commission’s allegations Wednesday without admitting or denying the regulator’s claims. Lebental, who didn’t immediately respond to a request for comment, is also prohibited from trading commodity interests for a month.
Spoofing is when a trader places an order and quickly cancels before executing it. These fake bids artificially boost supply and demand.
Lebental, a dual French and American citizen who lived in ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.