CFTC cracks down on unpaid fines

WASHINGTON, DC - The US Commodity Futures Trading Commission (CFTC) last week ordered John Glase and his companies Sutherland Group and Skibo Asset Management to make audio recordings of client conversations, after failing to settle a $361,371 penalty.

The trio was initially fined in July 2006 for fraudulent sales of options and trading recommendations. Of the sum owed, only $1,256 was paid.

Conversations between the sales teams and the businesses' principals must also be recorded, and Glase has

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