Spoofing becoming illegal

I am curious... Spoofing was so common before, do you guys know some people who recently found it "attractive" to relocate to countries that do not extradite people to the US?
 
I think over time we've now come to realize why spoofing has actually been cracked down upon so much: because it's taking money away from HFT entities who own the regulators and exchanges. Spoofing hurts HFT more than it hurts Joe Retail. Naturally the algos will change to try and detect spoofing but then spoofers will change their methodologies as well - essentially all methods being arb'ed out of each other until we're back to before.
 
It would seem to me that if there was a minimal (and possibly random) time period that orders must remain valid on the books, that both spoofing and HFT would largely dry up. If that happened, I'm still undecided if that would be good or bad for the US financial system.
 
sprstpd said:
If they are so concerned about spoofing, why don't they just require orders to stay active in the book for a few seconds. Then you enforce no spoofing by the exchange rules themselves. But no, let's waste time trying to figure out "intent" of all live orders and also waste taxpayer money to take people to court. What a joke. All because the HFTs have the regulators in their back pockets.
More...

You nailed it, this is easily solvable with realistic and robust rules but due to bribery and corruption, only the small guys will be prosecuted. Look at the puny sums most are dealing with, Coscia said to have taken in $1.4 mln, pathetic.
This is what happens when you don't pay off the right people, I suppose.
 
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