Hedge Fund Manager To Pay $1M To Settle CFTC Suit

Law360, New York (July 25, 2011, 6:51 PM EDT) -- The U.S. Commodity Futures Trading Commission announced Monday that a Moore Capital Management LP manager had agreed to pay a $1 million civil penalty to settle charges that he attempted to manipulate prices of palladium and platinum futures contracts.

In addition to the civil penalty, Christopher L. Pia will be permanently banned from trading platinum and palladium futures contracts, and from trading products regulated by the CFTC while the markets are closed, according to a CFTC administrative order.

“To protect market participants and promote market integrity,...
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