WSJ: CFTC’s McDonald says data mining boosted enforcement action

Investigators probing whether traders at J.P. Morgan rigged silver prices seven years ago decided there was no case to bring. Last week, the same agency gave it a $920 million fine. How a small agency that once walked away from an investigation of price manipulation, only to later impose its biggest fine ever for the conduct, shows the advances government has made in using data to uncover market manipulation, said James McDonald, enforcement director of the Commodity Futures Trading Commission.

The CFTC posted record enforcement actions in its fiscal year ended September 30, and announced that McDonald will be leaving the agency this week.

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