The US Commodity Futures Trading Commission has sent orders to various banks on Wall Street to preserve documents concerning the lenders’ metals warehousing businesses in a sign of a possible upcoming investigation following years of complaints issued to regulators. Reports say the CFTC has received complaints claiming inflated pricing regarding their metal producing companies; the market has recently become dominated by the likes of Goldman Sachs, JP Morgan Chase and Glencore Xstrata. Unnamed sources who received the letters reported the news to media; the CFTC did not explicitly mention an investigation in its do-not-destroy notice. Reports say complaints of price-fixing have spiked in recent years as the trading system for various metals, especially aluminum, have become clogged due to an influx of the metals stockpiles in warehouses.
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Tech Rivals Push for EU Crackdown on Microsoft Edge Dominance
Oct 3, 2024 by
CPI
Pork Industry Faces Legal Challenges as Antitrust Lawsuits Against Seaboard Foods Dismissed
Oct 2, 2024 by
CPI
CMA Strengthens Investigation with Advisory Panel of Veterinary Experts
Oct 2, 2024 by
CPI
US Merchants Sue Visa, Alleging Unfair Dominance in Debit Card Market
Oct 2, 2024 by
CPI
European Commission Appoints New Chief Competition Economist
Oct 2, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Refusal to Deal
Sep 27, 2024 by
CPI
Antitrust’s Refusal-to-Deal Doctrine: The Emperor Has No Clothes
Sep 27, 2024 by
Erik Hovenkamp
Why All Antitrust Claims are Refusal to Deal Claims and What that Means for Policy
Sep 27, 2024 by
Ramsi Woodcock
The Aspen Misadventure
Sep 27, 2024 by
Roger Blair & Holly P. Stidham
Refusal to Deal in Antitrust Law: Evolving Jurisprudence and Business Justifications in the Align Technology Case
Sep 27, 2024 by
Timothy Hsieh