CFTC fined hedge fund EMF Financial Products LLC $4 million for making false statements about its market positions relating to U.S. Treasury note futures. The CFTC said EMF failed to fully disclose to the CBOT its control of up to $11.9 billion of the underlying cheapest-to-deliver security on the September 2005 contract, even as it held a significant large long position in the same contract. The charges stem from an incident in August 2005, when the CFTC says EMF misrepresented its positions regarding the September 2005 U.S. Treasury Note futures contract to the Chicago Board of Trade.