UNITED STATES OF AMERICA
COMMODITY FUTURES TRADING COMMISSION
In the Matter of
CFTC Docket Nos. 92-11, SD
|DANNY L. SCHECK||ORDER|
Former Commission registrant Danny L. Scheck has filed a petition seeking elimination of the remainder of a five-year trading prohibition that the Commission imposed on him in June 1997.1 The petition claims that Scheck has been rehabilitated and poses no substantial risk to the markets regulated by the Commission because he is willing to limit his role to personal trading and comply with any supervision or reporting requirements that the Commission deems appropriate. The Division opposes Scheck's petition and argues that it fails to raise the type of new or unforeseen conditions that warrant a change in the term of the Commission's trading prohibition.
Because the trading prohibition at issue was imposed pursuant to Section 9(b) of the Commodity Exchange Act ("Act"), the standards and procedures applicable to this matter are controlled by our recent decision in In re LaCrosse, CFTC Docket Nos. 90-26, SD 91-6 (CFTC Aug. 28, 2000). Moreover, the record indicates that disputes of material fact are at the heart of the parties' divergent views about the proper resolution of this matter. Consequently, we refer Scheck's petition to the Director of the Office of Proceedings for assignment to an Administrative Law Judge and resolution in accordance with the standards and procedures set forth in LaCrosse, supra.
IT IS SO ORDERED.
By the Commission (Chairman RAINER and Commissioners HOLUM, SPEARS, NEWSOME and ERICKSON).
Jean A. Webb
Secretary of the Commission
Commodity Futures Trading Commission
Dated: August 28, 2000
1 In re Scheck, [1996-1998 Transfer Binder] Comm. Fut. L. Rep. (CCH) ¶ 27,072 at 45,126 (CFTC June 4, 1997).