Release: #4000-97 (CFTC Docket No. SD 97-2)
For Release: March 7, 1997
CFTC FILES STATUTORY DISQUALIFICATION ACTION AGAINST JAMES P. GRAEBER, JR. AND SIMULTANEOUSLY ACCEPTS HIS OFFER, WHICH INCLUDES A TWO YEAR PERIOD OF RESTRICTED REGISTRATION
WASHINGTON -- The Commodity Futures Trading Commission (CFTC) announced today that it has filed a Notice of Intent to Suspend, Revoke or Restrict Registration against James P. Graeber, Jr., of Naperville, Illinois, a registered floor broker. At the same time the Notice was filed, the CFTC accepted Graeber's offer of settlement, which restricts Graeber's floor broker registration for a two-year period.
Under the terms of the settlement, during the two-year period of restricted registration Graeber will be prohibited from acting as a registrant unless he obtains a sponsor who will closely supervise his activities. In addition, Graeber may not:
-- 1) act as a principal, partner, officer, or branch office manager of any entity required to be registered with the Commission;
-- 2) act as a supervisor over anyone require to be registered;
-- 3) exercise discretionary authority over orders (with limited exceptions); or
-- 4) serve on certain self-regulatory committees, including
disciplinary committees, arbitration panels, and governing boards.
The CFTC's Notice alleged that Graeber was statutorily disqualified from registration as a result of a November 1994 felony conviction for reckless homicide and a 1980 conviction for misdemeanor theft.