September 17, 2014
The CFTC issued an order settling charges against Sean F. McCabe
, a resident of Sunny Isles, Florida, and his company, WorldPMX, Inc.
, for engaging in illegal, off-exchange precious metals transactions and for operating WorldPMX as an unregistered Futures Commission Merchant (FCM). The order requires McCabe and WorldPMX jointly to pay restitution totaling $1,048,807 and a civil monetary penalty of $140,000, and imposes permanent registration and trading bans on McCabe and WorldPMX. CFTC