UNITED STATES OF AMERICA
COMMODITY FUTURES TRADING COMMISSION
ROSENTHAL COLLINS GROUP, ET AL.,
CFTC Docket No. 98-R070
ORDER OF SUMMARY AFFIRMANCE
After reviewing the record and the parties' appellate submissions, we conclude that the ALJ committed no material error in dismissing the complaint in this matter on the ground that the complainant failed to establish that her losses were the result of wrongdoing by the respondents.1 We further conclude that the parties have not raised important questions of law or policy with respect to the ALJ's determination that merit discussion. Accordingly, we affirm the ALJ's Order of Dismissal dated January 26, 1999.2
IT IS SO ORDERED.
By the Commission (Chairperson BORN and Commissioners HOLUM, SPEARS, and NEWSOME).
Jean A. Webb
Secretary of the Commission
Commodity Futures Trading Commission
Dated: May 27, 1999
1 As a separate matter, on April 7, 1999, the respondents filed with the Commission a motion for leave to adduce additional evidence pursuant to Commission Regulation 12.405, 17 C.F.R. § 12.405. The Commission may reopen a hearing to receive additional evidence if it is satisfied that the evidence is material and that there were reasonable grounds for failure to adduce such evidence at the hearing. Because we have determined that the profferred evidence is not material, the respondents' motion is denied.
2 Under Sections 6(c) and 14(e) of the Commodity Exchange Act, 7 U.S.C. §§ 9 and 18(e) (1994), 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 provides that such an appeal must be filed within 15 days after notice or the order and that an 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.