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

Rathbone Brothers Plc : Director/PDMR Shareholding

29/04/2016 15:31:03
Rathbone Brothers Plc Director and PDMR Shareholding The Rathbone Savings Related Share Option Plan On 29 April 2016, options over Rathbone Brothers ..

Novae Group plc: Holdings in Company

29/04/2016 12:41:31
  TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi   ..

Majedie Asset Management Ltd : Form 8.3 - HOME RETAIL GROUP

29/04/2016 10:35:51
FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTI..

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
AIR FRANCE - KLM : The Air France KLM Board of Directors designates Jean-Marc Janaillac as the group's future Chairman and CEO
2
OCEANTEAM ASA - ANNUAL REPORT 2015
3
Faiveley Transport and Wabtec meet with the European Commission - Closing expected in Q4 2016
4
Aéroports de Paris: First quarter of 2016 consolidated revenue up by 1.8%, to €683 million
5
Saga Tankers ASA :Summons to the Annual General Meeting

Related stock quotes

Morgan Stanley 27.06 -0.6% Stock price decreasing

Buy and sell signals

  • Trend
  • Moneymachine

Copyright Euroinvestor A/S 2016   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.
 
02 May 2016 09:15:41
(UTC) Dublin, Edinburgh, Lisbon, London
Version: ReleaseBuild_20160421.1 - EUROWEB1 - 2016-05-02 10:15:41 - 2016-05-02 09:15:41 - 1000 - Website: OKAY