October 1, 2019
CFTC Orders Morgan Stanley Capital Group Inc. to Pay $1.5 Million for Spoofing in the Precious Metals Futures Markets
Washington, DC — The CFTC on Monday, September 30, 2019 issued an order filing and settling charges against Morgan Stanley Capital Group Inc. for engaging in spoofing on multiple occasions in the precious metals futures markets from at least November 2013 to November 2014. The order requires Morgan Stanley to pay a civil monetary penalty of $1.5 million, to cease and desist from violating the CEA’s spoofing prohibition, and to take specified steps to implement and strengthen its training, systems, and controls to detect and deter spoofing in the futures markets.
The order recognizes Morgan Stanley’s significant cooperation with the CFTC’s investigation, and notes that Morgan Stanley’s cooperation and remediation resulted in a reduced civil monetary penalty.
The Division of Enforcement staff members responsible for this case are Lara Turcik, Brandon Wozniak, Candice Aloisi, Lenel Hickson, Jr., and Manal M. Sultan.