October 1, 2019

Matthew D. Webb of Houston, Texas, and his employer, broker Classic Energy LLC, will pay over $1.5 million to resolve charges that Webb used material, nonpublic information from Classic customers to make trades in Webb’s proprietary trading account.  In addition, Webb failed to disclose to Classic customers that he was acting not only as a broker, but also as a trading counterparty.  Classic Energy was also found to have multiple supervision and recordkeeping failures.  CFTC

Tagged in: Financial and Investment Fraud, Fraud in CFTC-Regulated Markets, Insider Trading, Regulatory Violations,