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Federal Contractor Misconduct Database (FCMD)

The federal government routinely awards contracts to companies with histories of misconduct, including contract fraud and other violations. POGO believes that providing this website will help to improve contracting decisions and increase public knowledge of how the government spends billions of taxpayer dollars each year. Read more…

Failing to Diligently Supervise the Account of a Floor Broker

The Commodity Futures Trading Commission (CFTC) settled charges against FCStone, LLC and Commodity Operations Inc. for allegedly failing to diligently supervise the account of a floor broker. According to the CFTC, from at least August 2007 until February 19, 2008, FCStone and Commodity Operations failed to diligently supervise the account of a floor broker trading Sugar No. 11 futures contracts and failed to enforce their own compliance rules and procedures. FCStone and Commodity Operations jointly and severally paid a $260,000 civil penalty.

Misconduct Type
Securities
Enforcement Agency
CFTC
Contracting Party
None
Court Type
Administrative
Disposition
Settlement
Date of Order
3/13/2012
Contractors Involved Penalty
Total
Intl FCStone $260,000
Further Information Released
CFTC Press Release 3/13/2012
Order 3/13/2012

Federal Contractor Misconduct Database