South Florida Arbitration & Litigation Lawyer Blog
Florida Precious Metals (Gold, Silver, Platinum, Palladium and Copper) Fraud and Misrepresentation Federal and State Litigation and Arbitration Attorney:
On December 14, 2011, the Commodity Futures Trading Commission (“Commission”) issued in the Federal Register an interpretation regarding the meaning of the term “actual delivery,” as set forth in the Commodity Exchange Act. Recently, the Commission determined to clarify its interpretation, which is reflected in the attached link.
This interpretation is important from the prospective of both sellers and buyers of precious metals using leverage. From a sellers standpoint, failure to comply with the actual delivery provisions, discussed in the interpretation could led to adverse consequences from an enforcement action brought by the Commission or in a civil action brought by a purchaser. CFTC Interpretive Release – Actual Delivery
Please keep in mind that this information is being provided for informational purposes only. It is not designed to be complete in all material respects. Thus, it should not be relied upon as legal or investment advice. If the reader has any questions concerning the contents of this post, you should consult with a qualified professional.
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