UNITED STATES OF AMERICA
Before the
COMMODITY FUTURES TRADING COMMISSION

Our review of the record and the parties' appellate submissions establishes that the findings and conclusions of the presiding officer are supported by the weight of the evidence; we therefore adopt them. We further conclude that the presiding officer committed no error material to the outcome of this proceeding and that the parties have not raised important questions of law or policy meriting extended discussion. Accordingly, we affirm the result of the initial decision without opinion.

IT IS SO ORDERED.¹

By the Commission (Chairman RAINER and Commissioners HOLUM, SPEARS, NEWSOME, and ERICKSON)

Jean A. Webb
Secretary of the Commission
Commodity Futures Trading Commission

Dated: February 24, 2000

1 Under Sections 6(c) and 14(e) of the Commodity Exchange Act, 7 U.S.C. §§ 9 and 18(e), a party may appeal a reparation order of the Commission to the United States Court of Appeals for only the circuit in which a hearing was held; if no hearing was held, the appeal may be filed in any circuit in which the appellee is located. The statute also states that such an appeal must be filed within 15 days after the notice of the order and that any appeal is not effective unless, within 30 days of the date of the Commission order, the appealing party files with the court a bond equal to double the amount of any reparation award.