The Commodity Futures Trading Commission announced on Monday eight orders filing and settling charges against Michael Talento, Anthony Tyler Williams, Quillan Roberto Black, Christopher Williams, Michael Levi Peters, Jordan Taylor Morgan, Lewis Matthew Neal and Tyler Evan MacKechnie for acting as unregistered associated persons of unregistered foreign introducing brokers. The brokers solicited orders for off-exchange leveraged or margined retail foreign currency and retail commodity transactions from US customers who were not eligible contract participants, and the respondents did that soliciting without registering as associated persons, as the law requires.
Under the orders the eight must cease and desist and are barred for two years from registering with the Commission in any capacity or acting as a principal, agent or employee of any CFTC registrant. Each order also recognises the penalty the respondent owes in a related Securities and Exchange Commission proceeding, and the SEC has filed and settled its own charges on the same conduct. The cases follow an earlier Commission order sanctioning Netrios LP Ltd. and Red Acre Ltd. for facilitating illegal off-exchange commodity transactions with US customers.