CFTC Finds Former Trader David Liew Engaged In Spoofing And Manipulation Of The Gold And Silver Futures Markets And Permanently Bans Him From Trading And Other Activities In CFTC-Regulated Markets - CFTC Recognizes Liew’s Cooperation And Substantial Assistance In The Investigation, Which Included Entering Into A Cooperation Agreement With The Division Of Enforcement

The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order filing and settling charges against David Liew for engaging in numerous acts of spoofing, attempted manipulation, and, at times, manipulation of the gold and silver futures markets. Liew engaged in this unlawful conduct for more than two years while he was employed as a junior trader on the precious metals desk for a large financial institution (Financial Institution 1). The CFTC Order finds that Liew acted individually and in coordination with traders at Financial Institution 1 and with a trader at another large financial institution.