Commodity Futures Trading Commission
Office of External Affairs (202) 418-5080
Three Lafayette Centre
1155 21st Street, NW
Washington, DC 20581

Release: 5022-04
For Release: December 1, 2004

U.S. Commodity Futures Trading Commission Finds New Yorkers Eugene Todd and Bentley Rothchild Group, Inc. Liable for Selling Illegal Foreign Currency Contracts

WASHINGTON, D.C. -- The U.S. Commodity Futures Trading Commission (CFTC) announced today the issuance of an order simultaneously filing and settling an administrative proceeding against respondents Bentley Rothchild Group, Inc. (Bentley Rothchild) and Eugene Todd, both of New York, New York. The Commission’s order finds that Bentley Rothchild and Todd solicited customers for the purpose of engaging in transactions involving illegal, off-exchange foreign currency futures contracts.

Specifically, the order finds that, between approximately June and November 2002, Bentley Rothchild and Todd solicited approximately 20 retail customers to invest in managed foreign currency trading accounts. Respondents solicited the retail customers and introduced them to a counterparty that was not legally permitted to offer and sell foreign currency futures contracts to retail customers, the order finds.

Bentley Rothchild and Todd, without admitting or denying the findings, consented to the entry of the order, which requires them to pay a civil monetary penalty of $10,000, orders them to cease violating the Commodity Exchange Act as charged, and prohibits them from trading on any registered entity or seeking registration with the Commission for five years.

The following CFTC Division of Enforcement staff were responsible for this case: Christina J. Kang, Philip D. Rix, Steven Ringer, Lenel Hickson, Stephen J. Obie, and Richard Wagner.

# # #

Media Contacts
Alan Sobba
(202) 418-5080
Dennis Holden
(202) 418-5088
Office of External Affairs

Related Documents