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To: pogohere who wrote (21543)	5/9/2010 12:58:20 PM
From: Canuck Dave	Read Replies (1) \| Respond to of 29622

You see this? nypost.com CD

To: pogohere who wrote (21543)	5/9/2010 1:28:16 PM
From: patron_anejo_por_favor	1 Recommendation Read Replies (2) \| Respond to of 29622

It's all interesting Strum und Drang....but with Gensler as the head of the CFTC I seriously doubt anything meaningful will come of it. He being a loyal Giant Squid alumuns. But we'll see. Wonder if the porno download rate for the CFTC exceeds their circle jerk partners at the SEC? Enquiring minds wanna know!

To: pogohere who wrote (21543)	5/9/2010 2:29:53 PM
From: John McCarthy	Respond to of 29622

Maybe they moved the "oil guy" over into metals ... CFTC Fines Morgan Stanley $14 Million for Unreported Crude Oil Trade CommentsPosted by Michael Hoven on April 30, 2010 at 11:53 am The CFTC hasn’t made any announcement yet regarding position limits on energy commodities, but the commission is already showing its teeth, reports Reuters. On Thursday the CFTC fined leading investment bank Morgan Stanley $14 million for its failure to report an oil trade in 2009. In a separate settlement, the CFTC fined Moore Capital $25 million for trades that attempted to manipulate palladium and platinum prices. The fines were the result of settlements that followed CFTC investigations of the trades. Neither Morgan Stanley nor Moore Capital admitted to or denied the charges, and both released statements that pinned the blame on former employees. From Morgan Stanley: As the CFTC indicates, this matter concerned an isolated request by a former Morgan Stanley trader. From Moore Capital: Neither Moore Capital’s principals nor its current management were involved in any improper trading, and none have been accused of any wrongdoing. Morgan Stanley’s fine resulted from a block crude oil trade with UBS in February 2009. Block trades, which involve large numbers of contracts, have to be reported to the New York Mercantile Exchange (NYMEX) within five minutes of the transaction. The CFTC alleged that a trader with Morgan Stanley and a UBS broker agreed not to report the trade until after trading had closed for the day. The Wall Street Journal reported that Morgan Stanley sold 33,110 April 2009 crude oil contracts and bought 33,110 March 2009 contracts in the trade. UBS faces a $200,000 fine for its role in the deal. In addition to the penalty, the CFTC told Morgan Stanley to improve its training for traders and tighten its monitoring of block trades at the NYMEX for three years. The public comment period on the CFTC’s proposed position limits on energy commodities ended on Monday, and the commission has yet to say whether or not it will seek to carry out its proposal. However, between Thursday’s fines and Tuesday’s ruling to bring seven electronically traded natural gas contracts under its regulation, the CFTC has been active and shown a readiness to flex its regulatory muscle. This could be a sign that oil traders like Morgan Stanley and Goldman Sachs may soon face position limits and a stronger, more assertive CFTC that will hopefully bring lower and steadier crude and heating oil prices. This article was posted on Friday, April 30, 2010 at 11:53 am and is filed under Blog, commodities markets, market regulation heatingoil.com