A look at a case in which the first trader charged and convicted under Dodd-Frank's anti-"spoofing" provision lost his appeal at the U.S. Court of Appeals for the Seventh Circuit.
ljnstaffSeventh Circuit Upholds Spoofing Conviction
The first trader charged and convicted under Dodd-Frank's anti-”spoofing” provision lost his appeal at the U.S. Court of Appeals for the Seventh Circuit on Aug. 7. Michael Coscia, 54, was convicted by an Illinois federal jury in November 2015 on six counts of spoofing and six counts of commodities fraud.
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A recent decision from the U.S. District Court for the Southern District of New York (SDNY), United States v. Heppner, has generated outsized commentary suggesting that the use of generative AI tools may jeopardize attorney-client privilege. A closer reading shows something far less dramatic.
