Advisory Company Settles CFTC Charges For Failure To Register As An FCM

Author:Mr Cadwalader, Wickersham & Taft LLP
Profession:Cadwalader, Wickersham & Taft LLP

An energy marketing and advisory company settled CFTC charges for acting as a futures commission merchant ("FCM") without registering.

According to the CFTC, the company, which provides clients with marketing, mid-stream support, and advisory services for physical crude oil and natural gas commodities, acted as an unregistered FCM by (i) accepting orders on behalf of two corporate clients to trade natural gas commodity futures and options, (ii) placing orders and (iii) providing margin for the futures and options transactions for clients.

To settle the charges, the company...

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