INTL FCStone Shares Edge Lower - Reaches Settlement With CFTC

By
A A A

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.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: INTL

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

Stocks

Referenced

100%

Most Active by Volume

12,677,653
  • $18.02 ▲ 0.22%
11,166,492
  • $113.115 ▲ 0.99%
11,133,551
  • $7.45 ▲ 2.62%
10,288,793
  • $8.37 ▲ 6.08%
9,331,438
  • $93.3698 ▲ 2.28%
8,564,674
  • $68.945 ▲ 3.82%
8,043,449
  • $7.54 ▼ 0.79%
7,109,627
  • $10.73 ▲ 4.07%
As of 12/26/2014, 12:28 PM


Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com