4/13/2012

The Commodity Futures Trading Commission says Rosenthal Collins Group has agreed to a $2.5 million settlement over allegations that the futures brokerage failed to "diligently supervise" a customer's account used to run a Ponzi scheme. "Even if [a futures commission merchant] does not knowingly assist in a Ponzi scheme conducted by an account holder, an FCM cannot ignore questionable transactions that stand out as red flags of fraudulent conduct," the CFTC's David Meister said in a statement.

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