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Gemini Trust Ordered to pay $5 Million for Making False or Misleading Statements, Omissions to the CFTC
The Commodity Futures Trading Commission today announced the U.S. District Court for the Southern District of New York entered a consent order against Gemini Trust Company LLC, a New York trust company. The order includes a permanent injunction, and finds Gemini violated the CEA and made materially false or misleading statements or omissions to the Commission. The order requires Gemini Trust to pay a $5 million civil monetary penalty. “Making false or misleading statements to the CFTC in connection with a derivatives product certification undermines the CFTC’s efforts to ensure all futures products trading on ... (full story)