Release:4009-97 (CFTC Docket No. SD 97-4)
For Release:April 9, 1997
CFTC FILES STATUTORY DISQUALIFICATION ACTION AGAINST KEVIN MICHAEL HANLEY AND SIMULTANEOUSLY ACCEPTS HIS SETTLEMENT OFFER, WHICH INCLUDES A TWO-YEAR PERIOD OF CONDITIONED REGISTRATION
WASHINGTON -- The Commodity Futures Trading Commission (CFTC) announced today that it has filed a Notice of Intent to Deny or Condition Floor Broker Registration against Kevin Michael Hanley of Glen Ellyn, Illinois, an applicant for registration as a floor broker. At the same time the Notice was filed, the CFTC accepted Hanley's offer of settlement, which conditions Hanley's floor broker registration for a two-year period.
Under the terms of the settlement, filed on April 8, 1997, during the two-year period of conditioned registration, Hanley will be prohibited from acting as a registrant unless he obtains a sponsor who will closely supervise his activities. In addition, Hanley 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 required 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 Hanley was statutorily disqualified from registration as a result of a May 1995 plea of guilty to misdemeanor theft.