A four-year investigation into the possible manipulation of the the silver market
looks increasingly likely to be dropped after US regulators failed to
find enough evidence to support a legal case, according to three people
familiar with the situation.
The Commodity Futures Trading Commission first announced that it was investigating “complaints of misconduct in the silver market” in September 2008, following a barrage of allegations of manipulation from a group of precious metals investors.
In 2010, Bart Chilton, a CFTC commissioner, said that he believed there had been “fraudulent efforts” to “deviously control” the silver price.
But after taking advice from two external consultancies, the first of which found irregularities on certain trading dates that it believed deserved more analysis, CFTC staff do not have sufficient evidence to bring a case, according to the people familiar with the situation.
Read more: http://www.ft.com/intl/cms/s/0/45329d42-dd97-11e1-8be2-00144feab49a.html#axzz22lKYHOJS
The Commodity Futures Trading Commission first announced that it was investigating “complaints of misconduct in the silver market” in September 2008, following a barrage of allegations of manipulation from a group of precious metals investors.
In 2010, Bart Chilton, a CFTC commissioner, said that he believed there had been “fraudulent efforts” to “deviously control” the silver price.
But after taking advice from two external consultancies, the first of which found irregularities on certain trading dates that it believed deserved more analysis, CFTC staff do not have sufficient evidence to bring a case, according to the people familiar with the situation.
Read more: http://www.ft.com/intl/cms/s/0/45329d42-dd97-11e1-8be2-00144feab49a.html#axzz22lKYHOJS
No comments:
Post a Comment