Today the the Federal Trade Commission approved a rule prohibiting fraud in wholesale petroleum markets, a regulation that will take effect on Nov. 4. According to MarketWatch.com,
the rule prohibits actions such as false public announcements of planned output expectations, false statistical or data reporting and false information about certain types of sale intended to disguise the actual liquidity of a market. The regulation also prohibits misleading omissions from company statements.
FTC OKs rule prohibiting oil market fraud
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