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CFTC: Federal Court Sanctions Former New Jersey Energy Broker For Role In Disclosures Of Material Nonpublic Information


CFTC: Federal Court Sanctions Former New Jersey Energy Broker For Role In Disclosures Of Material Nonpublic Information
Date
23/02/2021
The Commodity Futures Trading Commission today announced that the U.S. District Court for the Southern District of New York entered a consent order on February 19, 2021, resolving CFTC charges that Ron Eibschutz, a former energy broker and New Jersey resident, sought and obtained disclosures of material nonpublic information from two former employees of the New York Mercantile Exchange (NYMEX) in violation of the Commodity Exchange Act (CEA) and CFTC regulations.
The order finds Eibschutz, who was a broker of energy futures and options, liable for aiding and abetting the NYMEX employees’ illegal disclosures. The order permanently bans Eibschutz from trading commodity interests and registering with the CFTC. The order also enjoins him from future violations of the CEA and CFTC regulations, as charged, and imposes a $75,000 ci ....

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