Brian L. Friedman, Senior Counsel, Proskauer to Speak at KC's Event
This two-hour event is scheduled on Friday, November 18, 2016 @ 12:00 PM to 2:00 PM (ET).
- Jersey City, NJ (1888PressRelease) November 14, 2016 - The Knowledge Group/The Knowledge Congress Live Webcast Series, the leading producer of regulatory focused webcasts, has announced today that Brian L. Friedman, Senior Counsel, Proskauer will speak at the Knowledge Group's webcast entitled: "Spoofing" and Disruptive Futures Trading Practices: What Every Firm Needs to Know LIVE Webcast.
For further details, please visit:
https://www.theknowledgegroup.org/all-events-list/live-webcasts/event-homepage/?event_id=1830
About Brian L. Friedman
Brian L. Friedman is a senior counsel in the Litigation Department and a member of the Financial Services Group and Securities Litigation Group. He regularly represents clients in a variety of complex matters, including litigations, investigations and enforcement proceedings in the financial services area, contract disputes and business torts. His practice includes matters in state and federal courts, and in domestic and international arbitrations. A significant portion of Brian's practice is dedicated to representing and counseling major brokerage firms, FCMs and other leading financial institutions in a wide variety of areas, including securities and commodities litigations, investigations and enforcement proceedings, arbitrations and mediations, compliance issues and regulatory controversies. Representative matters include state and federal suits regarding short selling practices, securitization disputes, as well as multiple investigations by SEC, CFTC, FINRA and NYSE regarding electronic trading, surveillance, email retention and other issues.
About Proskauer
Proskauer is a global law firm recognized for its excellence both in practicing law and serving clients. We are trusted advisors to many of the world's top companies, financial institutions, investment funds, not-for-profit institutions, governmental entities and other organizations across industries and borders. With 700+ lawyers in 13 offices and approximately 50 areas of practice, we have the capabilities, experience and creativity to guide our clients through their most important legal and business challenges.
Event Synopsis:
Under the Dodd-Frank Act, any trading practice "which violates bids or offers; or demonstrates intentional or reckless disregard for the orderly execution of transactions during the closing period," also known as spoofing, is illegal.
The year 2015 marked the U.S.' first criminal conviction of a trader for spoofing and the increase in the number of civil enforcement actions against the alleged traders. Michael Coscia, the first person to be convicted of spoofing crime, made civil case settlements amounting to a total of $2.7 million in disgorgement and $3.1 million in fines. Some other notable spoofing-related events include the cases of traders Navinder Sarao and Igor Oystacher.
Strengthened efforts are now geared towards spoofing detection, prevention, and punishment. Regulators are expected to actively monitor the markets through sophisticated spoofing detection technology. As a matter of fact, the Financial Industry Regulatory Authority ("FINRA") will begin to rate firms on the basis of spoofing volume and other manipulative trading tolerated through their systems. This will likely lead to increased enforcement actions and prosecutions in 2016 and beyond.
It is clear: firms need high quality compliance systems and individuals well-versed with the new regulatory backdrop to keep them out of spoofing trouble. Spoofing compliance systems help prevent spoofing risks and could help in mitigating any fine, should a firm be a target of regulatory scrutiny.
In this two-hour LIVE Webcast, a panel of distinguished professionals and thought leaders will help traders and firms understand the fundamental aspects of "Spoofing" and Disruptive Futures Trading Practices. They will provide an in-depth discussion of this significant topic and will also offer best practices in developing and implementing an effective spoofing compliance system.
Key topics include:
-"Spoofing" and Disruptive Futures Trading Practices - An Overview
-Notable Cases
-Current Enforcement Trends
-Spoofing Risks
-Spoofing Penalties
-Legal and Regulatory Forecasts
-Best Practices - Spoofing Compliance Systems
About The Knowledge Group/The Knowledge Congress Live Webcast Series
The Knowledge Group was established with the mission to produce unbiased, objective, and educational live webinars that examine industry trends and regulatory changes from a variety of different perspectives. The goal is to deliver a unique multilevel analysis of an important issue affecting business in a highly focused format. To contact or register for an event, please visit: http://theknowledgegroup.org/
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