FTC issues rules governing oil markets

08/7/2009 | Wall Street Journal, The

The Federal Trade Commission will have additional power beginning Nov. 4 to levy fines of as much as $1 million per violation daily against individuals and firms manipulating petroleum markets. FTC futures-trading rules will prohibit "false public announcements of planned pricing or output decisions, false statistical or data reporting, and wash sales intended to disguise the actual liquidity of a market or the price of a particular product."

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