Law360, New York ( April 29, 2016, 12:08 PM EDT) -- The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 added statutory language explicitly outlawing "spoofing" in the commodities and futures markets. The act defined spoofing as "bidding or offering with the intent to cancel the bid or offer before execution." In recent years, allegations of spoofing and similar behavior have featured in both criminal prosecutions and regulatory enforcement actions.[1] As legal activity proceeds, expert testimony may include analysis of how spoofing could work and how it could affect markets more broadly. Given the importance of "intent" in the statutory language, expert analysis of a defendant's trading patterns may also contribute evidence regarding the defendant's intentions....
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