Catch Me If You Can: Chasing Spoofers in the Tech Age
After a few high-profile court decisions, regulator are taking aim at spoofing. While still an up-hill battle, technology is helping to lead the way.
Last week, Michael Coscia was convicted of spoofing and sentenced to 25 years in prison. He is the first man to be convicted for such a crime since the conviction of Tom Hayes, who was brought down for manipulation of the London Interbank Offered Rate (LIBOR) benchmark in London a few months back, which also involved making up trades in the cash markets.
Walter Ferstand has been in the industry for three decades. For him, these convictions represent milestones for regulators when it comes to
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