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June 27, 2017

Posted  June 27, 2017

The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order filing and settling charges against Huafu HK Co. Ltd. (Huafu), a corporation based in Hong Kong, for failing to file CFTC Form 304 reports, reporting its call cotton purchases and sales when it held or controlled at least 100 cotton futures positions. The CFTC previously issued a market Advisory reminding cotton market participants wherever they are located of their ongoing obligation to comply in a timely manner with applicable reporting obligations (see CFTC Staff Advisory No. 13-14Obligation of Reportable Market Participants to File CFTC Form 304 Reports for Call Cotton in a Timely Manner as Required by Commission Regulation 19.02, May 8, 2013). The CFTC Order requires Huafu to pay a $225,000 civil monetary penalty and prohibits it from committing future violations of CFTC Regulation 19.02, as charged. CFTC

Tagged in: Fraud in CFTC-Regulated Markets, Regulatory Violations,