CFTC Orders Minnesota Futures Commission Merchant To Pay $6.5 Million For Anti-Money Laundering, Risk Management, Recordkeeping, And Supervision Violations
<p><span>The Commodity Futures Trading Commission announced today it has issued an order simultaneously filing and settling charges against registered futures commission merchant (FCM) CHS Hedging LLC, of Inver Grove Heights, Minnesota, for anti-money laundering (AML), risk management, recordkeeping, and supervision violations. These violations are primarily a result of CHS Hedging failing to implement an adequate AML program, particularly as applied to a futures and options trading account controlled by one of its customers. In addition, CHS Hedging failed to implement ri...