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U.S. CFTC will not appeal loss to prominent trader in manipulation case

From reuters.com

A U.S. regulator said on Wednesday it will not appeal the dismissal of its market manipulation lawsuit against DRW Investments LLC and its founder Donald Wilson, ending its more than five-year battle with the prominent Chicago trader. The Commodity Futures Trading Commission abandoned the case three months after Circuit Judge Richard Sullivan in Manhattan said it failed to prove DRW rigged a market for interest-rate swaps in 2011 to boost a roughly $350 million trading position. Sullivan’s decision followed a four-day bench trial in December 2016. It was a blow to CFTC efforts to thwart price rigging, and contained ... (full story)

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