CFTC Submits Proposed Consent Order To Federal Court in Chicago That Would Resolve The CFTCâs Price Manipulation And Spoofing Action Against U.K. Resident Navinder Singh Sarao - Sarao Pleaded Guilty To Spoofing And Wire Fraud Charges In A Related Criminal Action

The U.S. Commodity Futures Trading Commission (CFTC) today announced that it submitted a proposed Consent Order that would resolve its civil enforcement action in the U.S. District Court for the Northern District of Illinois against Navinder Singh Sarao (Sarao). The CFTC Complaint charged Sarao, along with his company Nav Sarao Futures Limited PLC, with unlawfully manipulating, attempting to manipulate, spoofing, and use of a manipulative device — all with regard to the E-mini S&P 500 near month futures contract (E-mini S&P) (see the CFTC Complaint and Press Release 7156-15, April 21, 2015).