CFTC ACTION: Cadent Financial Services LLC

Cadent 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.

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