(Crain's) - the commodity futures trading Commission filed against former Alaron Trading Corp. and at the same time reached charge a settlement requires the payment of a civil penalty of $ 260,000 and includes removing Alaron of the registry with the Agency.
The Commission stated in an order entered Thursday, from at least January 2008 October 2008 Chicago Alaron could not diligently its employees monitor the product interest accounts handling waren.Als of one of the shortcomings could a Alaron customers create a 4 - million dollar direct debit in July 2008, gives the firm net capital below the required level, fall the Commission stated in the order.
Alaron was bought in May 2009 by rival Peregrine Financial Group Inc. and was one of the Cedar Falls, Iowa-based company.
A Peregrine spokeswoman said the company, the business under the name PFGBest and a corporate office in Chicago as well who would be responsible for the civil penalty payment.
Steve Greenberg, Alaron's-founder stayed with Peregrine on after the company was sold, could not be reached for comment.
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