UNITED STATES OF AMERICA
COMMODITY FUTURES TRADING COMMISSION
|In the matter of:||)||CFTC DOCKETS NO. SD 00-01|
CAPITAL INSIGHT BROKERAGE, INC.,
|)||click here for link to the "Notice"|
OPINION AND ORDER ACCEPTING OFFER OF SETTLEMENT
OF CAPITAL INSIGHT BROKERAGE, INC.
On this date the Commission filed a Notice of Intent to Suspend, Revoke, or Restrict Registration ("Notice") against registrant Capital Insight Brokerage, Inc. ("Capital Insight").1 Capital Insight has submitted an Offer of Settlement ("Offer"). Upon consideration, the Commission has determined to accept the Offer.2 Solely on the basis of the consent evidenced by the Offer, and without adjudication on the merits, the Commission finds that the facts set forth in the Notice constitute cause for a statutory disqualification of Capital Insight under Section 8a(2)(C) of the Act, 7 U.S.C. § 12a(2)(C) (1994).3
Accordingly, the Commission HEREBY ORDERS that
I. Capital Insight's registration as an introducing broker is revoked; and
2. Capital Insight will comply with its undertaking that neither it nor any of its agents or employees under its authority or control shall take any action or make any public statement denying, directly or indirectly, any allegation of the Notice or findings or conclusions in the Order, or creating, or tending to create the impression that the Notice or Order is without factual basis; provided however nothing in this provision shall affect Capital Insight's (i) testimonial obligation, or (ii) right to take legal positions in other proceedings to which the Commission is not a party.
The provisions of this Order shall be effective on this date.
A copy of this Order shall be served on Capital Insight at the address set forth in the Notice, on all contract markets, and on the National Futures Association.
|By the Commission.|
|Date: February 16, 2000|
|Secretary to Commission|
|Commodity Futures Trading Commission|
1 The Notice alleges that Capital Insight's registration is subject to revocation, suspension, or restriction under Section 8a(2)(C) of the Commodity Exchange Act, as amended (the "Act"), 7 U.S.C. § 12a(2)(C) (1994), because an order of permanent injunction has been entered against Capital Insight, prohibiting it from acting in any capacity for which registration with the Commission is required under the Act, and from engaging in fraud in violation of the Act.
2 In its Offer, without admitting or denying the allegations of the Notice, Capital Insight acknowledges service of the Notice; admits the jurisdiction of the Commission with respect to the matters set forth in the Notice; waives a hearing, all post-hearing procedures, judicial review by any court, and any objection to the staff's participation in the Commission's consideration of the Offer; and stipulates that the record basis on which this Opinion and Order ("Order") is entered consists of the Notice and the findings to which Capital Insight consented in the Offer, which are incorporated in this Order. In addition, Capital Insight waives all claims which it may possess under the Equal Access to Justice Act, 5 U.S.C. § 504 (1994) and 28 U.S.C. § 2412 (1994), as amended by Pub. L. No. 104-121, §§ 231-32, 110 Stat. 862-63, and Part 148 of the Commission Regulations, 17 C.F.R. Part 148, relating to, or arising from, this action.
3 In its Offer, Capital Insight agrees to the use of these findings in this proceeding and in any other proceeding brought by the Commission or to which the Commission is a party; provided, however, that Capital Insight does not consent to the use of the Notice, its Offer, the findings to which it has consented in the Offer, or this Order as the sole basis for any other proceeding by any party hereto.