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

Man Group PLC : Form 8.3 - [Monitise PLC]

21/07/2017 12:57:03
FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the "Code") 1.         KEY INFORMATION (a) Full name of discloser: Man Group Plc (b) Owner or controller..

Mothercare Plc : Director/PDMR Shareholding

21/07/2017 10:16:06
21 July 2017 Mothercare plc  Director/PDMR shareholdings Mothercare plc has received notification of the following transaction in its ordinary shares.  In accordance with Article 19 of the EU Market Abuse Regulation, the relevant FCA notification is set out below.   Following the transaction, the total beneficial interest in the Company held by Mr Newton-Jones is 363,972 ordinar..

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
Stull, Stull & Brody Announces Class Action Lawsuit on Behalf of Employee Benefit Plan Purchasers of American Depository Shares of Teva Pharmaceutical Industries Limited
2
First Savings Financial Group, Inc. and The First National Bank of Odon Sign Definitive Acquisition Agreement
3
Lodes Chiropractic Center Educates Patients on Chiropractic Care for Runners
4
Veterinary Wellness Center of Boerum Hill Announces Special on its Basic Vaccine Package
5
Sanofi and Regeneron Receive Positive CHMP Opinion for Dupixent® (dupilumab) to Treat Adult Patients with Moderate-to-Severe Atopic Dermatitis

Related stock quotes

Morgan Stanley 46.59 0.2% Stock price increasing

Buy and sell signals

  • Trend
  • Moneymachine

Copyright Euroinvestor A/S 2017   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.
 
22 July 2017 09:40:47
(UTC+00:00) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20170720.2 - EUROWEB5 - 2017-07-22 10:40:47 - 2017-07-22 09:40:47 - 1000 - Website: OKAY