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CFTC fines U.S. Bank and Oppenheimer for use of unapproved communication methods
The Commodity Futures Trading Commission (CFTC) today announced the U.S. District Court for the Southern District of Florida entered a consent order on March 20 imposing a permanent injunction, civil monetary penalty, restitution, and equitable relief against Joseph Carvajales, a resident of Florida. The order requires Carvajales to pay $2.4 million in restitution to defrauded customers and a $1 million civil monetary penalty. The order also imposes permanent trading and registration bans and a permanent injunction prohibiting the defendant from further violations of the Commodity Exchange Act (CEA) and CFTC ... (full story)