Tuesday, August 13, 2013

I'm Starting to Think This LME Warehousing Thing Might Be a Big Deal (GS; JPM; GLEN.L)

Here's an interesting few sentences in the Financial Times article "Subpoenas issued over metals warehouse probe":
...Goldman, JPMorgan and Glencore have received subpoenas from the Commodity Futures Trading Commission in recent days, according to people familiar with the matter. Previously the regulator sent “do not destroy” letters to metal warehouse owners directing them to retain documents.

The CFTC requested the companies to send by the end of next week every document, communication, voice recording, correspondence and email related to the LME since January 2010, according to Reuters, which first reported the subpoenas but did not name any company which had received one....
"Every"?