CFTC Fines Chicago FCM $150K over Several Historical Reporting Violations

[kreslik.news]

Chicago-based Futures Commission Merchant (FCM) Cunningham Commodities LLC (Cunningham) and one of the company’s controllers have been ordered to jointly pay a $150,000 penalty by the U.S. Commodities Futures Trading Commission (CFTC) in connection with several reporting violations, according to the regulators press release dated May 9th regarding the fine.

The CFTC order found that Cunningham violated CFTC regulations when it failed to promptly notify the agency of an overnight deficiency of more than $3.4m in a segregated account as well as a deficiency in another account that resulted from a cash transfer error on March 10 2014, ... (read more)