CFTC expected to bring action against BP in futures probe

01/08/2007
BP PLC expects the US Commodity Futures Trading Commission staff to recommend that a civil enforcement action be brought against the company over alleged violations of federal commodity exchange regulations.The allegations are in connection with BP North America’s trading of unleaded gasoline futures on Oct. 31, 2002. CFTC’s staff notified the company of its plans on Nov. 21, BP said in a Dec. 13 filing with the US Securities and Exchange Commission.CFTC has been investigating various aspects of BP’s crude oil trading and storage activities in the US since 2003, the company said. It added that it has provided, and continues to provide responsive data and other informatio...
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