Bank of Nova Scotia charged by CFTC with spoofing in gold, silver futures

The Bank of Nova Scotia was charged by the Commodity Futures Trading Commission with multiple acts of spoofing in gold and silver futures between June 2013 and June 2016. Traders placed orders to buy or sell precious metals futures contracts with the intent to cancel the orders before execution, the CFTC said. The CFTC fine was $800,000, as the CFTC said the penalty was substantially reduced because it reported the conduct to the agency.

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