September 29, 2015

CFTC Order Imposes a Monetary Penalty and Permanent Trading and Registration Bans against Daniel Bowman for Violating Speculative Position Limits in Live Cattle Futures

Washington, DC - The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order filing and simultaneously settling charges against Daniel Bowman of Lisle, Illinois, for exceeding the spot month speculative position limit for the Live Cattle futures contract traded on the Chicago Mercantile Exchange (CME).

The Order finds that on three trading days in 2010, and three trading days in 2013, Bowman exceeded the spot month speculative position limit for the CME Live Cattle futures contract. The spot month speculative position limit was established by the CME and approved by the CFTC. In 2013, Bowman controlled the Live Cattle futures trading of Four Aces Investment Group, LLC (Four Aces). On the trading days of the position limit violations in 2013, the aggregate futures position held by Four Aces and Bowman exceeded the spot month speculative position limit in the Live Cattle futures contract, the Order finds.

In addition to imposing a $34,940.01 civil monetary penalty, the Order requires Bowman to cease and desist from further violations of Section 4a(e) of the Commodity Exchange Act and CFTC Regulation 150.5. The Order further imposes permanent trading and registration bans on Bowman. Finally, Bowman must also comply with the conditions, undertakings, and representations set forth in the Order.

CFTC Division of Enforcement staff members responsible for this action are George Malas, Patrick Marquardt, Melanie Devoe, Peter M. Haas, and Paul G. Hayeck.

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Last Updated: September 29, 2015