CFTC puts metals warehouses on notice of possible probe

The US commodities market regulator has put Wall Street banks and other big traders on notice for a possible investigation of their metals warehousing businesses following years of complaints about inflated prices.

The US Commodity Futures Trading Commission (CFTC) last week sent a letter to firms ordering them to preserve emails, documents and instant messages from the past three years, two sources who received the letters told Reuters.

The notice amounted to a “warning shot” ahead of what is probably a formal CFTC probe, one of the sources said.

via Business feed http://www.scmp.com/business/commodities/article/1288276/cftc-puts-metals-warehouses-notice-possible-probe