27/11/2012 22:30:00

CFTC Fines Former Morgan Stanley Trader for Illegal Futures Trades

Related content

By Tess Stynes

A former Morgan Stanley (MS) managing director and branch manager agreed to a $300,000 civil penalty and a four-month registration suspension in a settlement of trading-violation charges, according to the U.S. Commodity Futures Trading Commission.

According to the commission, Benjamin Hutchen of Winnetka, Ill., arranged a number of off-exchange trades between April 2008 and October 2009, mostly in Eurodollar and Treasury note futures contracts, that allegedly resulted in improper reporting to the Chicago Mercantile Exchange and Chicago Board of Trade.

In June, the CFTC reached a related $5 million settlement with Morgan Stanley for alleged unlawful execution, processing and reporting of several off-exchange futures trades to the CME and CBOT as exchanges for related positions.

A Morgan Stanley spokesman and Mr. Hutchen couldn't immediately be reached to comment.

Write to Tess Stynes at Tess.Stynes@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

November 27, 2012 17:30 ET (22:30 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Post comment

Related debate

  • 1 week
  • 1 month
  • 1 Year
Ingen indlæg

Regulatory news

Tech Companies Send Criticism Along With NSA-Related Data -- Update

04/02/2014 00:06:00
By Danny Yadron Technology companies including Google Inc. and Microsoft Corp. released new figures on the amount of data requests they received from U.S. ..

U.S. Hot Stocks: Hot Stocks to Watch

03/02/2014 14:07:00
Among the companies with shares expected to actively trade in Monday's session is Herbalife Ltd. (HLF). Herbalife Ltd. (HLF) raised its fourth-quarter outl..

Pfizer Study Meets Primary Endpoints

03/02/2014 13:05:00
Pfizer Inc. (PFE) said Monday that a Phase 2 trial of its advanced breast cancer treatment met its primary endpoint. Pfizer said a study comparing the effec..

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
Details of the Upcoming ExpoPlaza Latina Business Conference in Vancouver, BC on April 30, 2014 - Video News Alert posted on InvestmentPitch.com
2
Publicis Groupe : Press Release
3
International Commercial Television (CSE:ITV) (OTCQB:ICTL) Lists on Canadian Securities Exchange - Video News Alert on Investmentpitch.com
4
Emerge Energy Services LP Declares First Quarter Cash Distribution and Announces Date for Earnings Release
5
Gemalto first quarter 2014 revenue

Related stock quotes

Morgan Stanley 31.01 -0.1% Stock price decreasing

Buy and sell signals

  • Trend
  • Moneymachine

Related companies
Get access to information and recommendations of related companies with our PLUS package.

You get access to 7 valuable investment tools.

Click here to read more about the PLUS package.
Euroinvestor around the globe: Euroinvestor.dk | Euroinvestor.se | Euroinvestor.no | Euroinvestor.fr | Forexinvestor.com| Wisselkoersen.nl | Valuta.se | Valutaveksel.no | Divisas.es | Valute.it
Copyright Euroinvestor A/S 2014   Disclaimer and Terms of Use
Quote information is delivered by Interactive Data.
Data is delayed 15-20 minutes according to the distribution agreements set by the different exchanges.
 
24 April 2014 19:40:38
(UTC) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20140324.1 - EUROWEB5 - 2014-04-24 20:40:38 - 2014-04-24 19:40:38 - 1000 - Website: OKAY