INTL FCStone Shares Edge Lower - Reaches Settlement With CFTC


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INTL FCStone Inc. ( INTL ) is down 0.1% at $17.53 after reporting that its wholly owned subsidiary, FCStone LLC, has reached a settlement with the Commodity Futures Trading Commission (CFTC) in connection with transactions by former FCStone customers that took place between January 1, 2008, and March 1, 2009 and that resulted in the losses of approximately $127 million previously reported by FCStone in 2008 and 2009.

INTL neither admits or denies that CFTC's findings that the company violated certain regulations in that it failed to diligently supervise its officers' and employees' activities relating to risks associated with its customers' accounts, and in particular one account controlled by two of FCStone's customers who traded in natural gas futures, swaps and option contracts.

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This article appears in: Investing , Commodities

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