For Release: March 7, 2007
U.S. Commodity Futures Trading Commission Settles Recordkeeping Charges Against Pioneer Futures, Inc.
Washington, D.C.— The U.S. Commodity Futures Trading Commission (CFTC) today announced the issuance of an order filing and simultaneously settling charges against Pioneer Futures Inc. (Pioneer) for failing to produce trading records to the CFTC upon request. The CFTC order requires Pioneer, a registered futures commission merchant (FCM), to pay a $25,000 civil monetary penalty, among other sanctions.
During the course of an investigation of trading at the Chicago Mercantile Exchange and in response to document requests from the CFTC’s Division of Enforcement, the order finds that Pioneer failed to produce trading cards of two local traders and trading records relating to customer orders filled by floor broker on behalf of Pioneer customers. Such records are required to be maintained and produced by FCMs upon request. Pioneer’s failure to produce the requested trading records impaired the Division’s ability to fully investigate the trading activities of persons under investigation.
The following Enforcement Division staff were responsible for the case: Rosemary Hollinger, Thomas Koprowski, and Scott Williamson.
Last Updated: April 18, 2007