The Commodity Futures Trading Commission is investigating whether traders at Optiver used software to put their oil-trading orders at the front of the line and, in the process, manipulate prices. Regulators are increasingly looking at the high-frequency trading business, whose firms typically make markets.
During the second day of hearings before the Securities and Exchange Commission and the Commodity Futures Trading Commission, suggestions from experts in securities law included forming a joint task force. The SEC-CFTC task force would tackle swaps as the commissions begin regulating over-the-counter derivatives as well as other initiatives.
Former New York Gov. Eliot Spitzer is teaching "Law and Public Policy" as an adjunct professor at City College of New York this fall. Spitzer, who resigned in 2008 after a sex scandal, will receive $4,500 to teach the class. Spitzer has declined to comment on whether he is planning a return to politics.
The Securities and Exchange Commission is considering a plan to offer additional training for its employees to help them spot fraud. The proposed program, which was prompted by the Bernard Madoff fraud case, is being called "fraud college." But some concerns have been raised about the concept of creating a specialized SEC unit to detect fraud.
When joining a new team, don't try to make big changes right away but instead observe and learn how the team functions, Scot Herrick writes. If you cause disruptions right away, "you'll have a harder time building your credibility," he writes.