CFTC Charges Peter Miller and His Firm Omerta Capital LLC for Misappropriation of Nonpublic Information and Fictitious Trading

The US Commodity Futures Trading Commission (CFTC) announced that it has filed a civil enforcement action against Peter Miller, Puerto Rico resident, and his firm Omerta Capital LLC, due to their breaches of the Commodity Exchange Act (CEA) and CFTC regulations. 

The CFTC charges the defendants for receiving tipped confidential block trade order information belonging to an energy company from a trader at that company, and in turn trading on the basis of this information, including entering into non-arm's length, fictitious block trades in natural gas futures on the basis of this information. 

​"The CFTC is committed to pursuing all those who misappropriate material, nonpublic information, not only those who improperly disclose such information but also those who receive such information and trade on it for their personal profit," said Acting Director of Enforcement Vincent McGonagle. "Such misconduct undermines market integrity and public trust in our markets."

The CFTC seeks civil monetary penalties, disgorgement, restitution, registration and trading bans, and a permanent injunction against further violations of the CEA and CFTC regulations.