Appeals Court Reverses CFTC Penalty in Conway Family Trust Wash-Trade Case
COURT SLAPS CFTC WITH RARE REVERSAL OVER TRUST’S TRADES A U.S. appeals court has overturned a CFTC penalty against the Conway Family Trust, ruling that the agency stretched its enforcement reach by labeling a single family’s private trades as illegal wash sales. The decision narrows the CFTC’s latitude to police off-exchange futures activity and sends…
