Market Cops Got Power to Pursue Spoofers After Years of Failure
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The Commodity Futures Trading Commission was tired of losing.
With only one court victory in manipulation cases dating back to the agency’s creation in 1974, concern had swelled at the little-known regulator that help was needed to catch cheaters in U.S. derivatives markets. They got it with the Dodd-Frank Act in 2010, which ushered in the most sweeping reforms of Wall Street rules since the 1930s.