La Commodity Futures Trading Commission a publié un communiqué de presse dans lequel elle annonce la condamnation de Kevin McLaren et de Edward Gorman pour ventes fictives.
Selon la plainte déposée par la CFTC, les deux accusés se seraient livrés à des ventes illégales sur des contrats futures spread de maïs sur le Chicago Mercantile Exchange durant le mois de mars 2010.
Les défendeurs écopent d'une amende de 400 000 dollars ainsi que d'une interdiction de négociation de 140 jours.
The Commodity Futures Trading Commission (CFTC) today issued an order filing and simultaneously settling charges against Kevin McLaren and Edward Gorman for engaging in unlawful wash sales in corn futures spread contracts on the Chicago Mercantile Exchange in March 2010. The order imposes a $200,000 civil monetary penalty each on McLaren and Gorman, who were also ordered to cease and desist from future violations of Section 4c(a) of the Commodity Exchange Act, 7 U.S.C. § 6c(a) (2006), and Commission Regulation 1.38(a), 17 C.F.R. § 1.38(a) (2012). McLaren and Gorman were also ordered to submit to 140-day trading bans.
According to the order, on several occasions in March 2010, McLaren and Gorman intentionally engaged in a number of prearranged calendar spread trades in spot month corn futures for the same quantity, price, and contract month. In each instance, McLaren and Gorman executed the orders opposite each other. The order finds that because the trades were intended to negate market risk and avoid bona fide market transactions, they constituted noncompetitive “wash sales.”
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