Amid flurry of enforcement orders, CFTC fines energy broker $1.5 million

摘要

The Commodity Futures Trading Commission ordered energy broker Classic Energy and its owner to pay a $1.5 million civil penalty for misusing client information in connection with natural gas futures, as well as recordkeeping violations. The form of misconduct “undermines trust and confidence and vital futures markets and will not be tolerated,” CFTC Enforcement Director James McDonald said in a statement. The CFTC order asserted the owner used block trade order information provided by customers to take the other side of trades, while creating the false impression he was acting only as a broker.