The Commodity Futures Trading Commission (CFTC) has settled charges against Alvin Perez, a former New York Mercantile Exchange (Nymex) compliance department clerk, for disclosing nonpublic information to Nymex floor brokers.
The CFTC issued an order Tuesday permanently prohibiting Perez, of Staten Island, NY, from working for an exchange or any other firm required to be registered with the CFTC. The order also permanently bars Perez from acting as a principal, agent or any other officer or employee of any exchange, registered futures association, self-regulatory organization, or person registered, exempted from registration or required to be registered with the CFTC.
Perez was charged with disclosing to floor brokers material nonpublic information regarding investigations and proposed regulatory actions, which he obtained in his capacity as a Nymex employee (see Daily GPI, April 9).
The CFTC action resulted from a cooperative enforcement investigation with the New York County District Attorney’s Office (NYCDAO) of abusive trading practices on the Nymex. In a related matter Perez pled guilty to the state crime of commercial bribe receiving in the second degree for the same underlying conduct, for which the NYCDAO has recommended probation.
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