Release: #4574-01
For Release: October 10, 2001

COLORADO MAN BANNED FOR UNAUTHORIZED COMMODITY TRADING

CFTC Imposes Trading Ban on Dale Luther Mock

WASHINGTON, D.C. – The United States Commodity Futures Trading Commission (CFTC) announced today the settlement of an action filed on June 27, 2000 against former Greeley, Colorado resident Dale Luther Mock, charging Mock with the unauthorized trading of customer accounts (see CFTC Press Release 4411-01 , June 28, 2000).

The CFTC settlement order finds that from June 1997 through September 4, 1998, Mock was employed in the Greeley, Colorado branch office of a brokerage firm. According to the order, Mock did not have written power of attorney to execute trades in his customer’s accounts, and Mock knew that he was not permitted to engage in discretionary trading on behalf of his customers. However, the order notes that in July and August 1998, Mock executed nine trades in six customer accounts, without authorization from the customers and, after two customers complained, transferred certain of those trades to the accounts of two other unsuspecting customers, without the two customers’ authorizations.

The order provides that Mock shall:

• cease and desist from further violations of the Commodity Exchange Act and Regulations, as charged;
• pay a civil monetary penalty of up to $40,000 pursuant to a payment plan
• not trade commodity futures for a period of two years after the date of entry of the order (except that he is permitted to engage in bona fide hedging in connection with any business he might operate); and
• comply with undertakings set forth in his offer of settlement, among which is his undertaking never to apply for registration with the CFTC or seek exemption from registration, and never to engage in any activity requiring such registration or exemption from registration.

In consenting to the entry of the order and the findings in the order, Mock neither admitted nor denied the findings.

Case Contact:
Jack Barrett, Regional Counsel
CFTC Division of Enforcement
(310) 443-4700

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