Price manipulation enforcement actions

This library records 124 enforcement actions tagged price manipulation. Price manipulation is trading intended to create an artificial price — one that does not reflect genuine supply and demand — and it is the general charge a regulator brings when the conduct does not fit a more specific named technique.

Actions are listed newest first. Each row links to a case page carrying the regulator's own release and, where one was published, the complaint. For how this technique works and what statute it engages, read the price manipulation technique page.

Actions: 24
Total penalties: $2.4bn
Median penalty: $10.3m
Largest: $1.4bn
Criminal parallel: 38%

Action	Agency	Filed	Penalty	Status
CFTC v. Daniel Shak (price manipulation, 2015)	CFTC	2015-03-31	$100k	judgment
FCA v. David Caplin (benchmark submission rigging, 2015)	FCA	2015-01-22	—	settled
FCA v. Jeremy Kraft (benchmark submission rigging, 2015)	FCA	2015-01-22	—	settled
Former Genetic Technologies CEO jailed for market manipulation (ASIC, 2014)	ASIC	2014-11-28	—	unknown
CFTC v. Five Banks (benchmark submission rigging, 2014)	CFTC	2014-11-13	$1.4bn	judgment
Former Genetic Technologies CEO convicted of market manipulation (ASIC, 2014)	ASIC	2014-11-05	—	unknown
New South Wales man pleads guilty to market manipulation (ASIC, 2014)	ASIC	2014-10-16	—	unknown
CFTC v. Defendant Eric Moncada (price manipulation, 2014)	CFTC	2014-10-02	$1.6m	judgment
CFTC v. Defendant Daniel Shak (price manipulation, 2014)	CFTC	2014-10-01	$400k	filed
CFTC v. Brian Hunter (price manipulation, 2014)	CFTC	2014-09-16	$7.5m	judgment
CFTC v. Parnon Energy Inc. (price manipulation, 2014)	CFTC	2014-08-05	$13m	settled
CFTC v. Lloyds Banking Group and Lloyds Bank (benchmark submission rigging, 2014)	CFTC	2014-07-29	$105m	judgment
CFTC v. RP Martin Holdings Limited and Its Subsidiary (benchmark submission rigging, 2014)	CFTC	2014-05-16	$1.2m	judgment
FCA v. Martin Brokers (UK) Ltd (Martins) (benchmark submission rigging, 2014)	FCA	2014-05-15	—	settled
FCA v. Mark Stevenson (price manipulation, 2014)	FCA	2014-03-20	—	settled
CFTC v. of Attempted Manipulation of NYMEX Crude Oil Futures Contracts (banging the close, 2013)	CFTC	2013-11-26	$400k	judgment
CFTC v. Donald R. Wilson and his Company (banging the close, 2013)	CFTC	2013-11-07	—	unknown
CFTC v. Co (benchmark submission rigging, 2013)	CFTC	2013-10-30	$475m	judgment
FCA v. Coöperatieve Centrale Raiffeisen–Boerenleenbank B.A. (‘Rabobank’) (benchmark submission rigging, 2013)	FCA	2013-10-29	—	settled
CFTC v. ICAP Europe Limited (benchmark submission rigging, 2013)	CFTC	2013-09-26	$65m	judgment
FCA v. ICAP Europe Ltd (benchmark submission rigging, 2013)	FCA	2013-09-25	—	settled
FCA v. Michael Coscia (layering, 2013)	FCA	2013-07-03	—	settled
CFTC v. The Royal Bank of Scotland plc and RBS Securities Japan Limited (benchmark submission rigging, 2013)	CFTC	2013-02-07	$325m	judgment
FCA v. The Royal Bank of Scotland plc (benchmark submission rigging, 2013)	FCA	2013-02-06	—	settled