Former Bank Of Montreal Director Settles with CFTC

Law360, New York (March 8, 2010, 5:03 PM EST) -- The U.S. Commodity Futures Trading Commission has reached a settlement with the former executive managing director of the Bank of Montreal's Commodity Derivatives Group, putting to rest claims that he did not adequately supervise a trader who was accused of overstating the value of the bank's natural gas options book.

Under the settlement approved by the U.S. District Court for the Southern District of New York on Monday, Moore will be required to pay a $150,000 civil monetary penalty within 10 days. Moore is also permanently...
To view the full article, register now.