CFTC Fines UBS Over Position Limits On Energy Futures

Law360, New York (February 25, 2010, 3:01 PM EST) -- The U.S. Commodity Futures Trading Commission has fined Swiss investment bank UBS AG $130,000 for violating position limits on natural gas, heating oil and platinum futures contracts between 2006 and 2008.

According to an administrative order filed Wednesday by the CFTC, between December 2006 and March 2008, UBS took positions on four separate futures contracts that violated limits set by the New York Mercantile Exchange and approved by the commission.

Along with the $130,000 fine, UBS must cease violations of position limits as set out under...
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