P.M. BRIEFING : U.S. Charges Futures Merchant

FROM TIMES WIRE SERVICES

The government said today that it filed a two-count administrative complaint against Stotler & Co., a registered futures commission merchant, and accepted an offer of settlement from the firm.

In the complaint filed Tuesday, the Commodity Futures Trading Commission charged that from Dec. 31 to June 30, the Chicago-based company maintained "its adjusted net capital at a level that was at least $3.9 million less than the amount required for it to continue to function as a futures commission merchant."

The commission also charged that Stotler overstated its excess adjusted net capital in separate reports it filed with the government agency.

"Stotler agreed to cease and desist from further violations and agreed to a permanent trading ban and a revocation of its registration as a futures commission merchant, effective 45 days after the effective date of the commission's order," the agency said.

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