CFTC targets banks, warehouses during metals probe

August 13, 2013 | Last updated on August 13, 2013
1 min read

The U.S. Commodity Futures Trading Commission has subpoenaed a metals warehousing firm, as part of its current commodities probe that started in July, reports Business Standard.

It adds the warehouse must now give up all communications sent to and from the London Metal Exchange over the past three years. The CFTC is looking for evidence that U.S. warehouses have limited the sale of precious metals to companies by raising prices. Read more on the probe and industry.

Financial Times adds the commission is also cracking down on major banks involved with metals warehouses.

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