CFTC sets penalties for three Chicago traders (Crain's) (News Story)
August 25, 2011
The CFTC said that it settled charges against Dearborn Trading Inc., a commodity pool operator, and its owner Joel Bronstein for failing to file an annual report, and it required them to pay an $180,000 penalty.
The CFTC also settled charges against Craig A. Taffel, a registered floor broker, for acting as a futures commission merchant without being registered. He was also ordered to pay an $180,000 penalty. The agency also said it settled charges against Chicago-based Teneco Inc., a futures commission merchant, for failing to diligently supervise its employees and for placing trades without proper authorization from account holders. The CFTC imposed a $140,000 civil penalty and required the firm to implement a training and compliance programs to prevent future violations.
Cross References: CEA Section 4d(a)(1); CFTC Rules 4.22(c) 166.3; Order: Dearborn Trading, Inc., et al.