Futures Broker To Pay $310K To Settle CFTC Charges

Law360, New York (August 27, 2008, 12:00 AM EDT) -- A Chicago-based futures merchant has agreed to pay a $310,000 fine to settle charges by the U.S. Commodity Futures Trading Commission that it failed to properly oversee the management of one of its brokerage accounts.

The CFTC announced the deal with Rosenthal Collins Group LLC in a statement Wednesday, saying the firm had also agreed to strengthen its supervisory controls as a result of the breach of commission regulations, without admitting or denying any wrongdoing.

According to the commission's order, RCG — a registered futures merchant...
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