For Release: August 26, 2008
Washington, DC — The Commodity Futures Trading Commission (CFTC) today settled charges against Alvin Perez, a former New York Mercantile Exchange (NYMEX) Compliance Department Clerk, for disclosing non-public information to NYMEX floor brokers.
The CFTC issued an order on August 26, 2008, permanently prohibiting Perez, of Staten Island, New York, from working for an exchange or any other firm required to be registered with the CFTC. The order also permanently bars Perez from acting as a principal, agent, or any other officer or employee of any exchange, registered futures association, self-regulatory organization, or person registered, exempted from registration, or required to be registered with the CFTC. The order recognizes Perez’s cooperation in this matter.
Perez was charged with disclosing to NYMEX floor brokers material non-public information regarding investigations and proposed regulatory actions, which he obtained in his capacity as a NYMEX employee.
The CFTC action resulted from a joint CFTC cooperative enforcement investigation with the New York County District Attorney’s Office (NYCDAO) of abusive trading practices on the NYMEX. In a related matter, Perez pled guilty to the state crime of Commercial Bribe Receiving in the Second Degree for the same underlying conduct, for which the NYCDAO has recommended a sentence of probation.
The CFTC would like to thank the NYCDAO and NYMEX for their assistance with the investigation.
The following CFTC Division of Enforcement staff are responsible for this case: Judith Slowly, Philip Rix, Sheila Marhamati, Steven Ringer, Lenel Hickson, Vincent McGonagle, and Stephen Obie.
Last Updated: August 26, 2008