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Commodity Futures Trading Commission 

CEA CASES 

NAME: COMMODITY CONSULTANTS, INC., AND PETER F. SCHOENFELD 

DOCKET NUMBER: 163 

DATE: JULY 23, 1969 

DOCUMENT TYPE: AMENDED COMPLAINT 

UNITED STATES DEPARTMENT OF AGRICULTURE 

BEFORE THE SECRETARY OF AGRICULTURE 

In re: Commodity Consultants, Inc., and Peter F. Schoenfeld, Respondents 

CEA Docket No. 163 

Amended Complaint and Notice of Hearing Under the Commodity Exchange Act 

There is reason to believe that the respondents have violated the Commodity 

Exchange Act, as amended (7 U.S.C. 1964 ed., Chapter 1, as amended, Supp. IV, 

1969) and the regulations made pursuant thereto. Therefore, this amended 

complaint and notice of hearing is issued stating the charges in that respect as 

follows: 

I 

Respondent Commodity Consultants, Inc., is now, and was at all times material 

herein, a corporation organized and existing under the laws of the State of 

California, with its office at 6363 Wilshire Boulevard, Los Angeles, California 

90048. The said corporation is now, and was at all such times, a registered 

futures commission merchant under the Commodity Exchange Act, engaged in trading 

in commodities for future delivery for the accounts of customers and holding for 

such customers sums of money, representing deposits of margin by and trading 

profits accruing to such customers. 

II 

Respondent Peter F. Schoenfeld, an individual whose business address is the 

same as that of the respondent corporation, is now, and was at all times 

material herein, President of the respondent corporation. At all such times, 

the operations of the respondent corporation were under the direction and 

control of respondent Peter F. Schoenfeld. 

III 

The respondent corporation presently fails to meet the minimum financial 

requirements prescribed by section 1.17 of the regulations (34 F.R. 599) issued 

by the Secretary of Agriculture under the Commodity Exchange Act, and at all 

times during the period from May 6 through June 24, 1969, failed to meet such 

requirements. During such period, the respondent corporation's current 

liabilities exceeded its current assets, and it lacked sufficient capital to 

meet the minimum financial requirements prescribed by section 1.17 of the 

regulations, as follows: 

Amount by Which 

Current 

Date Liabilities Exceeded Capital 

1969 Current Assets Deficiency 

May 6 $ 1,610.84 $ 11,610.84

7 1,970.66 11,970.66

8 1,970.66 11,970.66

9 1,970.66 11,970.66

12 2,218.51 12,218.51
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Amount by Which 

 Current 

Date Liabilities Exceeded Capital 

1969 Current Assets Deficiency 

13 2,218.51 12,218.51

14 2,218.51 12,218.51

15 2,218.51 12,218.51

16 2,218.51 12,218.51 

See original document-page 2 

Amount by Which Current Date LiabilitiesExceeded Capital 

1969 Current Assets Deficiency 

May 19 $ 2,959.37 $ 12,959.37

20 4,059.42 14,059.42

21 4,312.02 14,312.02

22 4,143.02 14,143.02

23 4,143.02 14,143.02

26 4,143.02 14,143.02

27 4,838.67 14,838.67

28 4,870.72 14,870.72

29 5,592.53 15,592.53

June 2 5,623.80 15,623.80

3 5,629.30 15,629.30

4 5,896.59 15,896.59

5 6,565.41 16,565.41

6 6,978.56 16,978.56

9 7,537.41 17,537.41

10 8,043.91 18,043.91

11 8,463.91 18,463.91

12 8,569.39 18,569.39

13 8,941.14 18,941.14

16 8,941.14 18,941.14

17 9,206.14 19,206.14

18 9,406.14 19,406.14

19 9,406.14 19,406.14

20 9,406.14 19,406.14

23 9,406.14 19,406.14

24 9,223.84 19,223.84

IV 

By reason of the facts alleged in this amended complaint, the respondents 

wilfully violated section 4f of the Commodity Exchange Act (7 U.S.C. 6f, Supp. 

IV, 1969) and section 1.17 of the regulations issued thereunder (34 F.R. 599). 

WHEREFORE, it is hereby ordered that this amended complaint and notice of 

hearing be served upon the respondents and this proceeding shall be governed by 

sections 0.1, 0.2, 0.4(b), 0.5 through 0.22, and 0.28 of the rules of practice 

under the Commodity Exchange Act (CFR 

0.1, 0.2, 0.4(b), 0.5 through 0.22, 0.28). The respondents will have twentyfive days after the receipt of this amended complaint in which to file with the 

Hearing Clerk, United States Department of Agriculture, Washington, D.C. 20250, 

an answer with an original and four copies, fully and completely stating the 

nature of the defense and admitting or denying, specifically and in detail, each 

allegation of this amended complaint. Allegations not answered will be deemed 

admitted for the purposes of this proceeding. Failure to file an answer will 

constitute an admission of all the allegations of this amended complaint and a 

waiver of hearing. The filing of an answer in which all of the material 

allegations of fact contained in the amended complaint are admitted likewise 
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shall constitute a waiver of hearing unless a hearing is requested. The 

respondents are hereby notified that unless hearing is waived, a hearing will be 

held at 10:00 a.m., local time, on September 17, 1969, in Los Angeles, 

California, at a place therein to be specified later, before a referee 

designated to conduct such hearing. At such hearing, the respondents will have 

the right to appear and show cause, if any there be, why an appropriate order 

should not be issued in accordance with the Commodity Exchange Act, (1) 

prohibiting the respondents from trading on or subject to the rules of any 

contract market, and directing that all contract markets refuse all trading 

privileges to the respondents for such period of time as may be determined, (2) 

directing that the respondents shall cease and desist from violating the act and 

regulations in the manner 

alleged herein, and (3) suspending or revoking the registration of respondent 

Commodity Consultants, Inc., as futures commission merchant. 

It is ordered that this amended complaint and notice of hearing be served on 

the respondents at least twenty-five days prior to the date set for hearing. 

Done at Washington, D. C. 

July 23, 1969 

[SEE SIGNATURE IN ORIGINAL] 

Richard E. Lyng 

Assistant Secretary 

 

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