United States Ninth Circuit

In a matter arising from circumstances where petitioner was found to have intentionally violated a speculative position limit rule of the Chicago Mercantile Exchange (CME), a petition for review of the Commodity Futures Trading Commission's (CTFC) cease and desist order, $110,000 fine, and ban imposed on petitioner from trading on all exchanges under CFTC control for 30 days, is denied where: 1) CME Rule 443 does not limit the CFTC's ability to impose sanctions for a violation of 7 U.S.C. section 6a(e); and 2) the CFTC's imposition of sanctions does not violate due process.

Appellate Information

• Argued 03/15/2007
• Decided 06/04/2007
• Published 06/04/2007

Judges

• BEA, Circuit Judge., Before:  MELVIN BRUNETTI, WILLIAM A. FLETCHER, and CARLOS T. BEA, Circuit Judges.

Court

• United States Ninth Circuit

Counsel

• For Appellant:
  
• Hugh J. Cadden, Corte Madera, CA, for petitioner, Andy Saberi.


• For Appellees:
  
• Nancy R. Page, Bella L. Rozenber, Office of the General Counsel, Commodity Futures Trading Commission, Washington, DC, for respondent, Commodity Futures Trading Commission.