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Commodity Futures Trading Commission 

CEA CASES 

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

DOCKET NUMBER: 163 

DATE: JUNE 24, 1969 

DOCUMENT TYPE: 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 

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 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 

As of May 6, 1969, the respondent corporation failed 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. 

As of said date, the current liabilities of the respondent corporation exceeded 

its current assets by approximately $ 1,600.00 and it lacked approximately $ 

11,600.00 of having enough funds to meet such minimum financial requirements. 

IV 

By reason of the facts alleged in this 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 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 (17 CFR 0.1, 
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0.2, 0.4(b), 0.5 through 0.22, 0.28). The respondents will have twenty-five 

(25) days after the receipt of this 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 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 complaint and a waiver of hearing. 

The filing of an answer in which all of the material allegations of fact 

contained in the complaint are admitted likewise 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 

August 5, 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 complaint and notice of hearing be served on the 

respondents at least twenty-five (25) days prior to the date set for hearing. 

Done at Washington, D. C. 

June 24, 1969 

[SEE SIGNATURE IN ORIGINAL] 

Richard Lyng 

Assistant Secretary 

 

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