UNITED STATES OF AMERICA
COMMODITY FUTURES TRADING COMMISSION
MICHAEL B. BUCKLER, JR.,
ING (U.S.) SECURITIES, FUTURES &
CFTC Docket No. 97-RO73
ORDER PURSUANT TO
On August 14, 1998, Respondent ING (U.S.) Securities, Futures & Options Inc. ("ING"), filed a notice of appeal from the Initial Decision issued on August 4, 1998, in this reparation proceeding. The notice of appeal was accepted. On September 17, 1998, ING filed a Motion to Stay Award Pending Appeal. In its motion, in addition to requesting a stay of the award, ING represented that it had "decided not to proceed on appeal in this matter." ING has not filed an appeal brief.
Commission Rule 12.401(b), 17 C.F.R. § 12.401(b) (1998), requires that an appealing party file an appeal brief within thirty (30) days after filing the notice of appeal. If the appeal brief is not filed within the time prescribed by the rule, the Commission may, upon its own motion, dismiss the appeal. The period for ING to perfect its appeal expired on September 14, 1998. Because ING has failed to file a brief, its appeal is dismissed.1
IT IS SO ORDERED.2
J. Douglas Richards
Deputy General Counsel
Commodity Futures Trading Commission
Dated: June 1, 1999
1 On May 18, 1999, the remaining respondents in the case, namely, Universal Financial Bancorp, Inc., dba Potomac Futures, and Walter Joseph Landry, withdrew their appeals. In light of the dismissal of ING's appeal, the Initial Decision issued on August 4, 1998 will become the final order and decision of the Commission upon service of this order. See Commission Rule 12.401(b), 17 C.F.R. § 12.401(b) (1998). ING's Motion to Stay the Award Pending Appeal is therefore moot, as is the Complainant's motion filed on May 20, 1999, requesting a final decision and order.
2 By the Commission pursuant to delegated authority. Commission Rule 12.408(a)(4), (6), 17 C.F.R. § 12.408(a)(4), (6) (1998).