CFTC files charges over Amaranth collapse

27 Jul 2007

Commodity Futures Trading Commission (CFTC) has filed legal action against Amaranth and its former head trader, Brian Hunter, alleging that the two parties manipulated natural gas futures prices.

The civil enforcement action in the United States District Court for the Southern District of New York relates to accusations that the two parties tried to manipulate gas futures contracts at New...

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"While we support its overall direction, a number of the requirements in the review are needlessly oppressive, particularly the proposed limits on execution-only business and bilateral execution. Additionally, the swathe of costly disclosure obligations is more likely to confuse than inform customers.”

The FOA's Anthony Belchambers responds to the EC's Mifid review.