CFTC Hits Hedge Fund With $4M Fine Over Statements

Law360, New York (November 13, 2009, 5:42 PM EST) -- The U.S. Commodity Futures Trading Commission announced Friday that it had struck a $4 million deal with EMF Financial Products LLC to settle charges that the New York-based hedge fund made false statements to market regulators about certain positions and financing.

In administrative charges filed simultaneously with the settlement, the CFTC alleged that EMF concealed and misrepresented key information about its positions and financing for a September 2005 10-year U.S. Treasury Note futures contract to the Chicago Board of Trade.

As Chicago Board of Trade officials...
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