August 25, 2011
CFTC Orders Dearborn Trading, Inc. and Joel Bronstein of Chicago, Illinois to pay $180,000 Civil Penalty for Failing to File Pool’s Closing Annual Report
Washington, DC — The U.S. Commodity Futures Trading Commission (CFTC) today issued an order filing and simultaneously settling charges against Dearborn Trading, Inc. (Dearborn), a commodity pool operator (CPO), and Joel Bronstein (Bronstein), Dearborn’s owner and principal, for failing to file a closing Annual Report (liquidation statement) for Dearborn Trading Fund, LLC, a commodity pool operated by Dearborn. The CFTC order requires Dearborn to pay a $180,000 civil monetary penalty and file the pool’s liquidation statement within 30 days of the entry of the order.
The CFTC order finds that from about January 2009 until approximately June 2009, Dearborn was operating the pool when it ceased trading on or about June 30, 2009. Dearborn failed to file the pool’s closing Annual Report (liquidation statement) within 90 calendar days after the pool ceased trading, in violation of CFTC regulation 4.22(c), 17 C.F.R. § 4.22(c) (2009).
The CFTC thanks the National Futures Association for its assistance.
CFTC staff members responsible for this case are Brian Walsh, Kenneth McCracken, Jessica Harris, Rick Glaser, and Richard Wagner.
Last Updated: August 25, 2011