CFTC Seeks To Revoke CT Managers' Pool Operator Status

Law360, New York (August 21, 2013, 6:53 PM EDT) -- The U.S. Commodity Futures Trading Commission signaled on Wednesday that it plans to strip Chicago Trading Managers LLC of its status as a commodity pool operator, citing the company's role in defrauding investors by issuing false account statements that hid the depletion of commodity pools.

The agency said that it will revoke Colorado-based CT Managers' registration, saying the company no longer qualifies as a commodity pool operator and commodity trading adviser, according to the CFTC's notice of intent. CFTC said a default judgment and permanent injunction...
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