UNITED STATES OF AMERICA
COMMODITY FUTURES TRADING COMMISSION
__________________________________ : In the Matter of : CFTC Docket No. 83-43 : COMMODITIES INTERNATIONAL : CORPORATION, COMMODITIES : ORDER INTERNATIONAL HOLDING CORPORATION,: J.C.C., INC., ELLIS K. KAHN and : PHILLIP GENE GRABARNICK : __________________________________:
Respondent Phillip Gene Grabarnick filed a pro se motion to stay the sanctions imposed in our opinion and order of January 14, 1997 pending his appeal to the U.S. Court of Appeals for the Eleventh Circuit. Our decision imposed on him a cease and desist order, a trading ban and a $208,000 civil monetary penalty. We temporarily stayed those sanctions while we considered his request for a stay. See Order of February 13, 1997. For the reasons set forth below, Grabarnick's motion to stay is denied.
A litigant seeking a stay must show that he is likely to succeed on the merits, that he will suffer irreparable harm if a stay is denied, and that neither the public interest nor the interests of any other party will be adversely affected if a stay is granted.
Grabanick's two-paragraph pleading makes no attempt to meet this standard. As grounds for the stay, he asserts only that he has petitioned for review of our decision. We hold that nothing in the Commodity Exchange Act, 7 U.S.C. 1 et seq. (1994), in Commission Regulations, or in our precedent provides for an automatic stay pending appeal of administrative enforcement sanctions. Such sanctions become effective 30 days after the date of service of the order imposing them.
Having made no showing under the applicable standard for the relief he requests, Grabarnick's motion to stay is denied. The sanctions imposed in our January 14, 1997 opinion and order shall become effective within 15 days of the date of this order.
IT IS SO ORDERED.
By the Commission (Chairperson BORN and Commissioners DIAL, TULL, HOLUM, and SPEARS).
Jean A. Webb
Secretary of the Commission
Commodity Futures Trading Commission
Dated: March 18, 1997