U.S. COMMODITY FUTURES TRADING COMMISSION FILES AND SETTLES REGISTRATION CLAIM AGAINST JEFFREY ALLEN
CFTC Order Finds that Allen Failed to Register as a Commodity Trading Advisor
WASHINGTON, D.C. -- The U.S. Commodity Futures Trading Commission (CFTC) announced today the simultaneous filing and settlement of an administrative enforcement action against Jeffrey W. Allen of Houston, Texas. The CFTC order finds that beginning in April 2001, Allen violated the Commodity Exchange Act (CEA) by holding himself out to the public as a commodity trading advisor and directing the commodity accounts of at least six customers, all without registering with the Commission as a Commodity Trading Advisor (CTA). The order also finds that Allen failed to provide his customers with disclosure documents, as CTAs are required to do under the CEA.
The order requires Allen to refrain from applying for or seeking exemption from registration with the CFTC, other than in limited instances; to cease and desist from further violations of the CEA and CFTC regulations; and prohibits Allen from trading on or subject to the rules of any registered entity. In consenting to the entry of the CFTC’s order, Allen neither admitted nor denied the findings made in the order.
A copy of the CFTC order may be found at http://www.cftc.gov.
The following Division of Enforcement staff were responsible for this case: Lael Campbell, Christine Ryall, John Dunfee, Paul Hayeck, and Joan Manley.
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