CFTC ACTION: Cadent Financial Services LLC
Felix Shipkevich - September 30, 2009Cadent failed to diligently supervise its APs to ensure that third-party funds were not commingled with the funds already in an existing customer’s account. The CFTC order imposes a $120,000 civil monetary penalty on Cadent. The order also requires Cadent to strengthen its supervisory system for overseeing its APs, employees’ and agents’ sales solicitations and maintenance of customer accounts.
