Ninth Circuit Expands CFTC Reach: Leveraged Spot Trades Now Inside Fraud Jurisdiction
Court Hands CFTC Fresh Power Over Spot Metals The Ninth Circuit just reversed a lower court and ruled that the CFTC can sue Monex for alleged fraud in its financed precious-metals business, even though no futures contracts changed hands. The decision keeps the agency’s enforcement door open for any leveraged spot transaction that looks, smells,…
