Filed December 15, 2014
The final guidance begins by conceding the obvious point that “spoofing” does not mean all “bidding or offering with the intent to cancel the bid or offer before execution.” 7 U.S.C. § 6c(a)(5)(C). Instead, the inquiry will be highly fact-intensive: “[w]hen 8 The Indictment alleges nothing to support a claim that any of Mr. Coscia’s orders reflected “false” market depth.
Filed December 18, 2015
In opposing Mr. Coscia’s motion to dismiss, the Government did not argue simply that Mr. Coscia placed orders “with the intent to cancel [them] before execution,” as the statute requires. 7 U.S.C. § 6c(a)(5)(C). That type of intent would not have differentiated Mr. Coscia’s conduct from commonplace forms of trading.
Filed October 28, 2015
When a market participant enters a bid or offer with the intent to execute part of it, he does not intend “to cancel the bid or offer before execution.” 7 U.S.C. § 6c(a)(5)(C). Rather, he intends to execute the bid or offer for the number of contracts that he would like to buy or sell.
Filed October 27, 2015
The parties agree that the government must prove that the defendant engaged in trading, practices or conduct that is spoofing, and that the term “spoofing” is defined as “bidding or offering with the intent to cancel the bid or offer before execution.” 7 U.S.C. § 6c(a)(5)(C). But defendant also proposes that this Court read a seven-paragraph instruction further elaborating on the meaning of this definition.
Filed June 15, 2015
..............................................28, 36 U.S. v. Stop & Shop Cos., 1984 WL 3196 (D. Conn. Nov. 9, 1984) .................................................................................33 UIn re Viropharma, Inc., Secs. Litig., 2003 WL 1824914 (E.D. Pa. Apr. 7, 2003) .............................................................................15 Watseka Farmers Grain Coop. v. FC Stone Grp., 2006 WL 3743112 (C.D. Ill. Dec. 15, 2006) ...........................................................................48 Zinser v. Cont’l Grain Co., 660 F.2d 754 (10th Cir. 1981) .................................................................................................30 In re Zoran Corp. Deriv. Litig., 511 F. Supp. 2d 986 (N.D. Cal. 2007) .....................................................................................14 Statutes & Rules 7 U.S.C. § 2(a)(1)(B) .....................................................................................................................46 7 U.S.C. § 6c(a)(5).........................................................................................................................44 7 U.S.C. § 9....................................................................................................................................45 7 U.S.C. § 13..................................................................................................................................45 76 Fed. Reg. 41398-01...................................................................................................................40 78 Fed. Reg. 31890 ........................................................................................................................44 78 Fed. Reg. 31896 ........................................................................................................................44 CFTC Rule 180.1 .....................................................................................................................45, 46 Fed. R. Civ. Proc. 8
Filed April 15, 2009
In re Crude Oil Commodity Litig., No. 06 Civ. 6677, 2007 WL 1946553 (S.D.N.Y. June 28, 2007) ......................................................................................................................... 9 In re Natural Gas Commodity Litig., 358 F.Supp.2d 336 (S.D.N.Y. 2005) ....................... 6 Rich v. Maidstone Fin., Inc., No. 98 Civ. 2569, 2001 WL 286757 (S.D.N.Y. March 23, 2001) ............................................................................................................................... 5 TSC Industries v. Northway, 426 U.S. 438 (1976) ......................................................... 3, 4 United States v. Bilzerian, 926 F.2d 1285 (2d Cir. 1991)................................................... 4 Washington v. Twp. of Hillside City Council, Civ. A. No. 06-3102, 2008 U.S. Dist. LEXIS 51229 (D.N.J. June 30, 2008)........................................................................... 10 Statutes Commodity Exchange Act § 4c(b), 7 U.S.C. § 6c(b) ..................................................... 5, 9 Commission Regulation 33.10, 17 C.F.R. § 33.