Posts

Showing posts with the label CFTC | Sanctions

CFTC : CFTC Sanctions Cadent Financial Services LLC $125,000 for Supervision Violations

Image
RELEASE: pr6042-11 6042-11 CFTC Sanctions Cadent Financial Services LLC $125,000 for Supervision Violations Chicago-based Cadent failed to supervise diligently its employees’ handling of customer orders. Washington, DC ― The U.S. Commodity Futures Trading Commission (CFTC) today filed and simultaneously settled charges against Cadent Financial Services LLC (Cadent), a registered Chicago, Ill.-based futures commission merchant, for failing to supervise diligently its employees and associated persons (APs) in their handling of commodity futures orders of a guaranteed introducing broker (GIB) of Cadent and the GIB’s AP, sole principal and owner. The CFTC order imposes a $125,000 civil monetary penalty and a cease and desist order on Cadent. The CFTC order finds that, from February 2007 through at least October 2007, the GIB’s AP engaged in an unlawful trade allocation scheme for his personal benefit and