La Commodity Futures Trading Commission a publié un communiqué de presse dans lequel elle annonce la condamnation des entreprises chinoises Weidong Ge & Sheenson Investments pour violation des limites de positions spéculatives sur des contrats à termes concernant l'achat d'huile de soja et de coton.
Les deux sociétés on accepté de régler des amendes s'élevant à 1 million de dollars pour Weidong Ge et 500 000 dollars pour Sheenson Investments afin de lever les accusations de la CFTC.
The U.S. Commodity Futures Trading Commission (CFTC) today announced that Weidong Ge (Ge) and Sheenson Investments, Ltd. (Sheenson), both of Shanghai, China, agreed to pay disgorgement of $1 million and a $500,000 civil monetary penalty to settle CFTC charges that they exceeded speculative position limits in Soybean Oil and Cotton No. 2 futures contracts.
According to the CFTC order settling the matter, on February 26, 2009, Sheenson exceeded the all months combined speculative limit of 6,500 contracts in Soybean Oil by 350 contracts, and on March 10, 2009, Sheenson exceeded the same Soybean Oil limit by 88 contracts. The order also finds that from January 6, 2011 through February 11, 2011, Ge, by virtue of his ownership interest in Sheenson, Chaos Investment Co. Ltd. (British Virgin Islands), and Chaos Investment Ltd. (Hong Kong), exceeded the single month limit of 3,500 contracts in Cotton No. 2 by as much as 599 contracts and the all months limit of 5,000 contracts in Cotton No. 2 by as much as 389 contracts. On July 18, 2011, Ge, by virtue of his ownership in the above described companies, exceeded the single month limit in Cotton No. 2 by 143 contracts, according to the order.
In addition to ordering disgorgement and imposing a civil monetary penalty, the CFTC’s order requires Ge and Sheenson to cease and desist from violating the Commodity Exchange Act’s prohibition against exceeding speculative position limits.
CFTC Division of Enforcement staff members responsible for this action are Patrick M. Pericak, Daniel C. Jordan, Michael Loconte, Jeremy Cusimano, Rick Glaser and Richard Wagner, and Susan Donlan and Walter Spilka of the CFTC’s Division of Market Oversight.
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