Commodity pool operator should have stuck to gold or silver

Section:

CFTC Orders New York Firm D.E. Shaw & Co. L.P.
to Pay $140,000 Penalty for Violating Soybean
and Corn Futures Speculative Position Limits

U.S. Commodity Futures Trading Commission
Press Release
Wednesday, February 22, 2012

http://www.cftc.gov/PressRoom/PressReleases/pr6186-12

WASHINGTON -- The U.S. Commodity Futures Trading Commission (CFTC) today announced the filing and simultaneous settlement of charges against commodity pool operator D.E. Shaw & Co. L.P. of New York for exceeding speculative position limits in soybean and corn futures contracts in trading on the Chicago Mercantile Exchange. The order requires D.E. Shaw to pay a $140,000 civil monetary penalty and cease and desist from further violations of section 4a(b) of the Commodity Exchange Act and CFTC regulation 150.2.

The CFTC order finds that on April 1, 2010, D.E. Shaw held a short position of 9,894 May 2010 soybean futures contracts -- a position that exceeded by 3,394 contracts the single month speculative limit of 6,500 for soybean futures. On June 18, 2010, D.E. Shaw held a short position of 13,657 December 2010 corn futures contracts -- a position that exceeded by 157 contracts the 13,500 contract single month speculative position limit for corn futures, according to the order.

CFTC Division of Enforcement staff members responsible for this case are Linda Y. Peng, David W. MacGregor, Lenel Hickson, Jr., Stephen J. Obie, and Vincent A. McGonagle.



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Golden Phoenix Discusses Royalty Mining Growth Strategy
on '21st Century Business' on Fox Business Network

Golden Phoenix Minerals Inc. has discussed its royalty mining growth strategy on the Fox Business Network program "21st Century Business" with host Jackie Bales. Golden Phoenix's director of corporate communications, Robert Ian, told how the company narrows its focus to project generation and future royalty streams. He explained why Golden Phoenix believes it's better to own joint-venture interests in several producing mines instead of full exposure to just one project.

"21st Century Business" has been airing for 15 years. Previous hosts have included Gen. Alexander Haig, Gen.l Norman Schwarzkopf, and Secretary of Defense Caspar Weinberger. Golden Phoenix appeared as paid programming on this broadcast.

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