Credit Suisse Settles CFTC Charges for Wheat Futures Violations

[kreslik.news]

The U.S. Commodity Futures Trading Commission (CFTC) has today simultaneously filed and settled an order charging Credit Suisse International (CSI) with exceeding the CFTC all-months speculative position limits on the Chicago Board of Trade (CBOT) wheat futures contracts. Over several days during April and June 2009, the firm has violated regulations, despite having been granted an increased hedge exemption by the U.S. watchdog.

CFTC’s order has also found that Credit Suisse Securities (USA) LLC submitted to the CFTC’s Division of Enforcement false or misleading information reflecting certain inflated swap positions and thus inflated hedge exemptions for CBOT wheat futures contracts for CSS-USA, CSI, and ... (read more)