Economy

Regulators crack down on gold manipulator.

"The punishment for the manipulators with the “faulty” trading platform?

• In accordance with the settlement offer, the Panel ordered Mirus to pay a fine to the Exchange in the amount of $200,000.

So Nav Sarao may spend 380 years in jail for spoofing the S&P lower, but some bucket prop trading shop executing some “unknown” client’s orders gets away with $200K. Brilliant."

Not exactly a crackdown.

"First Mirus no longer exists: one year ago it was acquired by NinjaTrader, Zenfire was deactivated, and any and all traders complicit in the gold manipulation scheme have long since gone on to bigger and better manipulating venues.
Second, as one furious reader finally blew up and asked then CFTC “regulator” and now HFT lobbyist, Bart Chilton what the hell is going on, only to find out that the US commodity regulator had other more pressing concerns at the time – and every time – than running fair and functioning markets:" 

That's because the Fed is ultimately behind the manipulation.