Witter v. Commodity Futures Trading Commission

Federal 7th Circuit Court
Civil Court
Commodity Exchange Act
Citation
Case Number: 
No. 15-3535
Decision Date: 
August 10, 2016
Federal District: 
Petition for Review, Order of Commodity Futures Trading Commission
Holding: 
Petition denied

Record contained sufficient evidence to support Commission’s order, finding that neither petitioner-client nor broker violated Commodity Exchange Act, even though petitioner alleged that broker had failed to follow his telephone directive to cancel certain working orders. Judgment officer could properly find that petitioner failed to prove his allegations by preponderance of evidence as to what he actually instructed customer service representative to do, especially where petitioner demonstrated confusion during hearing with respect to his use of trading terms. Moreover, judgment officer could properly refuse to draw adverse inference based on broker’s failure to produce recording of actual telephone call, where broker provided adequate reason for why said call had not been recorded.