La Commodity Futures Trading Commission a publié un communiqué de presse dans lequel elle annonce la condamnation de Matthew L. Hall pour transactions hors bourse sur des métaux précieux.
Comme expliqué dans la plainte émise par la CFTC, les transactions sur les matières premières avec les clients de détail, telles que celles accomplies par Hall, doivent être exécutées ou soumiss aux règles de transaction approuvées par la CFTC. Comme les transactions de Hall ont été exécutées hors bourse, elles étaient illégales.
Selon la CFTC, ni Hall, ni PEG, une entreprise de télémarketing avec un bureau virtuel, n'ont jamais été enregistrés auprès de ses services.
Les défendeurs devront rembourser leurs investisseurs à hauteur de 202 577 dollars. La CFTC exige également que soient interdit d'enregistrement Matthew L. Hall et sa société Pacific Exchange Group.
The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order filing and simultaneously settling charges against Matthew L. Hall, individually and doing business as Pacific Exchange Group (PEG), for engaging in illegal, off-exchange precious metals transactions. Hall resides in West Palm Beach, Florida, and PEG is a telemarketing firm with a virtual office in Henderson, Nevada. Neither Hall nor PEG has ever been registered with the CFTC.
The CFTC Order requires Hall to pay $202,577, in restitution to his customers. In addition, the Order imposes permanent registration and trading bans on him.
As explained in the Order, financed transactions in commodities with retail customers, like those engaged in by Hall, must be executed on or subject to the rules of an exchange approved by the CFTC. Since Hall’s transactions were executed off exchange, they were illegal.
Specifically, the CFTC Order finds that from late April 2012 through February 2013, Hall solicited retail customers, generally by telephone or through the PEG website, to invest in financed precious metals transactions, which were executed through Hunter Wise Commodities, LLC (Hunter Wise). Hall, individually and through his employees and agents, represented to prospective customers that 1) the customer could purchase physical commodities, including gold, silver, copper, platinum, or palladium, by paying as little as 20% of the purchase price, 2) customers would receive a loan for the remaining portion of the purchase price on which they would be charged interest, and 3) upon confirmation of the purchase, the physical commodity would be stored at an independent depository in an account in the customer’s name, the Order finds. These representations were based upon representations Hunter Wise made to Hall about Hunter Wise’s operations, according to the Order.