FCM Sanctioned for Allowing Customer Funds To Become Under-Segregated

The CFTC announced the filing and simultaneous settlement of charges against a registered FCM for failing to maintain sufficient funds in its customer segregation account for a period of three days, for failing to provide the CFTC timely notice of its under-segregation, and for related supervisory failures. The Order imposes a $700,000 civil monetary penalty and a cease and desist order on the firm, and requires the firm to undertake certain improvements to its internal controls to prevent future under-segregation violations and notification failures.

View Order in full here (links externally to CFTC website).
See also: Press Release