August 21, 2014

The CFTC issued an Order filing and settling charges against S.J. Woods, Inc. and its owners, Peter Blanco and Paul Proscia, involving their participation in illegal, off-exchange financed transactions in precious metals with retail customers. The Order requires them to pay restitution totaling $2,971,992.23 to their customers, imposes permanent trading bans against them, and prohibits them from violating the Commodity Exchange Act, as charged.   CFTC

Tagged in: Regulatory Violations,