Close

Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.

×

Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

CFTC Brings First Insider-Trading Case

Bruce Carton | December 11, 2015

MurphyAkroyd

Until last week, the CFTC had never brought an insider trading case for commodities trading. Indeed, the only example of insider commodities trading that most lawyers (or anyone else) could probably point to would be the ill-fated effort of the Duke brothers in the Eddie Murphy movie Trading Places.

In Trading Places, the theft of a confidential Department of Agriculture "crop report" helped Billy Ray Valentine (Eddie Murphy) and Louis Winthorpe III (Dan Aykroyd) successfully corner the orange juice futures market while simultaneously ruining the Duke brothers (who lost $394 million based on a...

Buy this article for $49, or subscribe to Compliance Week for a month at $149 and get unlimited article access for 30 days.