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September 29, 2017

Posted  September 29, 2017

– he Commodity Futures Trading Commission (CFTC) today issued an Order filing and simultaneously settling charges against Logista Advisors LLC (Logista), a crude-oil-trading firm based in Houston, Texas. The Order finds that, from approximately September 2013 through October 2014, Logista failed to diligently supervise the handling by its employees and officers of commodity interest accounts and other activities relating to Logista’s business as a CFTC registrant, particularly in connection with its former employee’s improper crude oil futures trading on a foreign exchange and Logista’s response to the exchange’s inquiry into that trader’s misconduct. Logista is registered with the CFTC as a Commodity Trading Advisor and Commodity Pool Operator. The Order requires Logista to pay a $250,000 civil monetary penalty and cease and desist from violating the CFTC Regulation governing diligent supervision. CFTC

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