- The UK's Financial Conduct Authority (FCA) is dropping its probe into the 'Essex Boys' oil traders following their offer to donate £1 million to charity.
- The investigation concerned potential collusion and sensitive information exchange that may have breached competition law during the 2020 pandemic oil price crash.
- The FCA views the donation and commitments to competition law training as sufficient for deterrence, without an admission of wrongdoing by the traders.
Topics: Asset types, Legal regulatory, Jurisdictions, Commodity, Enforcement actions litigation, Regulatory sandboxes pilots
Tags: #essexboys #oiltraders #fca #competitionlaw #commodityfutures #collusion #settlement #charitabledonation #marketmanipulation
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