Spoofing Prevention Act of 2017

Bill 115 s 134, also known as the Spoofing Prevention Act of 2017, is a piece of legislation introduced in the US Congress with the aim of preventing the practice of spoofing in financial markets. Spoofing is a form of market manipulation where traders place orders with the intent to cancel them before they are executed, in order to create a false impression of market demand.

The bill seeks to address this issue by making it illegal to engage in spoofing in any commodity or security traded on a US exchange. It also gives the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) the authority to enforce these regulations and impose penalties on those found to be in violation.

Additionally, the bill requires the CFTC and SEC to work together to develop regulations and guidelines for detecting and preventing spoofing, as well as to provide training and resources to market participants to help them comply with the new rules. Overall, the Spoofing Prevention Act of 2017 aims to protect the integrity of US financial markets by cracking down on the deceptive practice of spoofing and ensuring that traders operate in a fair and transparent manner.