Reuters: Regulatory News: Australia & NZ to pay $350,000 on position curb violations-CFTC

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Australia & NZ to pay $350,000 on position curb violations-CFTC Sep 27th 2012, 14:58 WASHINGTON, Sept 27 | Thu Sep 27, 2012 10:58am EDT WASHINGTON, Sept 27 (Reuters) - The U.S. Commodity Futures Trading Commission ordered Australia and New Zealand Banking Group Ltd to pay $350,000 to settle charges that it violated position limits in the wheat and cotton futures markets, the agency said on Thursday. According to the CFTC, the Australia-based financial services company exceeded the limits in trading on the Chicago Board of Trade and the Intercontinental Exchange in August 2010 and February 2011. The order was filed Sept. 26, days after the agency settled similar suits with other firms. Position limits curb the number of contracts that traders can hold in certain commodities like gold and oil.

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