The U.S. Federal Reserve was pressing JPMorgan Chase & Co to distance itself from its metals warehousing business more than a year ago.» Read More
Bart Chilton, the CFTC's commissioner, has sent a letter to Ben Bernanke urging the Fed to draft a tougher Volcker Rule so banks can no longer speculate in commodity markets.
JPMorgan is exiting physical commodities trading, the bank said in a surprise statement on Friday, as Wall Street's role in the trading of raw materials comes under unprecedented political and regulatory pressure.
Three years after Dodd-Frank was passed, the alphabet soup of banking regulators collaborating to write some 400 new industry rules are just 39 percent done.
On years of suspicion over inflated metal prices, the CFTC has put Wall Street banks on notice for a possible probe into their metals warehousing businesses.
An energy trading firm is being charged with manipulating markets through "spoofing," an increasingly frequent scheme in which false bids are submitted and then pulled back