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2019 CFTC LEXIS 1

Commodity Futures Trading Commission

January 31, 2019

CFTC Docket No. 19-05

Commodity Futures Trading Commission (CFTC) Decisions

Opinion

I. INTRODUCTION

The Commodity Futures Trading Commission ("Commission") has reason to believe that from in or about August 2013 to at least June 2016 ("Relevant Period"), Kevin Crepeau ("Respondent" or "Crepeau") violated Section 4c(a)(5)(C) of the Commodity Exchange Act ("Act"), 7 U.S.C. § 6c(a)(5)(C) (2012). Therefore, the Commission deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted to determine whether Respondent engaged in the violations set forth herein and to determine whether any order should be issued imposing remedial sanctions.

In anticipation of the institution of an administrative proceeding, Respondent has submitted an Offer of Settlement ("Offer"), which the Commission has determined to accept. Without admitting or denying any of the findings or conclusions herein, Respondent consents to the entry of this Order Instituting Proceedings Pursuant to Section 6(c) and (d) of the Commodity Exchange Act, Making Findings, and Imposing [*2]  Remedial Sanctions ("Order") and acknowledges service of this Order. 1 

II. FINDINGS

The Commission finds the following:

A. SUMMARY

During the Relevant Period, Crepeau, a trader at a proprietary  [*3]  trading firm, engaged in numerous instances of the disruptive trading practice known as "spoofing" (i.e., bidding or offering with the intent to cancel the bid or offer before execution) in the soybean, soybean meal, and soybean oil futures markets traded on the Chicago Board of Trade ("CBOT"), a futures exchange and designated contract market which is owned and operated by CME Group, Inc. This conduct violated Section 4c(a)(5)(C) of the Act, 7 U.S.C. § 6c(a)(5)(C) (2012).

B. RESPONDENT

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2019 CFTC LEXIS 1 *

In the Matter of: KEVIN CREPEAU, Respondent.

CORE TERMS

bid, date of entry, commodity, register, soybean, entity, indirectly, cancel