The Commodity Futures Trading Commission (CFTC) today issued an order filing and settling charges against Taishin Securities Co., Ltd., a Taiwanese financial services company, for engaging in wash sales and non-competitive transactions on the Chicago Mercantile Exchange.
The order requires Taishin to pay a civil monetary penalty of $200,000 and to cease and desist from further violations of the Commodity Exchange Act and CFTC regulations, as charged.
According to the order, Taishin engaged in multiple wash sales and non-competitive transactions while moving open futures positions it held from one broker to another broker.
Specifically, the order finds that in or around October 2022, a Taishin trader reached internal trading limits with the first broker and decided to transfer futures positions to Taishin’s…
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