Friday, August 21, 2009
FSA, CFTC to step up cross-border surveillance of oil markets
The U.K. Financial Services Authority and the Commodity Futures Trading Commission said they plan to work more closely in their supervision of energy-futures markets to curb manipulation and speculation. "We must effectively utilize all existing powers to ensure that futures markets remain free of manipulation, fraud or other market abuses," said Gary Gensler, chairman of the CFTC. "Achieving this goal requires a coordinated international response."
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