Release: 4801-03
For Release: June 25, 2003

CFTC ACCEPTS OFFER OF SETTLEMENT AGAINST A.G. EDWARDS & SONS, INC.

CFTC Orders A.G. Edwards & Sons, Inc., to Pay a Civil Penalty of $45,000

WASHINGTON, D.C. -- The U.S. Commodity Futures Trading Commission (CFTC) announced today that it issued an order accepting an offer of settlement from A.G. Edwards & Sons, Inc., to settle charges that A.G. Edwards had failed to create and maintain certain required records and was strictly liable for the registration violations of one of its employees, the former manager of its Columbus, Ohio, office, who has since died.

The CFTC ordered A.G. Edwards & Sons, Inc., a registered futures commission merchant, with its principal place of business in St. Louis, Missouri, to pay a civil monetary penalty of $45,000. The settlement announced by the CFTC resolves charges brought against Edwards in an enforcement action originally filed in 1997 involving Hedge-to-Arrive contracts, In the Matter of Roger J. Wright d/b/a Agricultural Marketing Service d/b/a Micah I Investment Club; Buckeye Countrymark, Inc, Philip L. Luxenburger and A.G. Edwards & Sons, Inc. (CFTC Docket No. 97-2) (see CFTC News Release 3965-96, November 13, 1996).

The following Division of Enforcement staff were responsible for the case: Stephen J. Obie, Beth Morgenstern, and Susan Berkowitz.

Media Enforcement Case Contact
Stephen J. Obie
Associate Director/New York Regional Counsel
CFTC Division of Enforcement (646) 746-9766

 

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