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Commodity Futures Trading Commission 

CEA CASES 

NAME: JOHN M. COX 

DOCKET NUMBER: 216 

DATE: OCTOBER 2, 1973 

DOCUMENT TYPE: COMPLAINT 

UNITED STATES DEPARTMENT OF AGRICULTURE 

BEFORE THE SECRETARY OF AGRICULTURE 

In re: John M. Cox, Respondent 

CEA Docket No. 216 

Complaint and Notice of Hearing Under the Commodity Exchange Act 

There is reason to believe that the respondent has violated the Commodity 

Exchange Act (7 U.S.C. 1 et seq.) and the regulations made pursuant thereto, and 

this Complaint and Notice of Hearing is issued stating the charges in that 

respect as follows: 

I 

The respondent, John M. Cox, an individual whose business address is c/o A. 

J. Riffel & Co. 141 West Jackson Boulevard, Room 1040, Chicago, Illinois 60604, 

is now and was at all times material herein, a member of the Chicago Board of 

Trade and a registered floor broker under the Commodity Exchange Act. 

II 

The Chicago Board of Trade, 141 West Jackson Boulevard, Chicago, Illinois 

60604, is now and was at all times material herein a duly designated contract 

market under the Commodity Exchange Act. 

III 

The transactions referred to in this complaint relate to the purchase and 

sale of corn futures contracts on the Chicago Board of Trade. Such contracts 

could have been used for hedging transactions in interstate commerce in corn or 

the products or byproducts thereof, 

or for determining the price basis of transactions in interstate commerce in 

corn, or for delivering corn sold, shipped, or received in interstate commerce. 

IV 

On or about May 21, 1973, the respondent made speculative trades for his own 

account in corn futures on the Chicago Board of Trade, which were in excess of 

the maximum permissible limits established by the order of the Commodity 

Exchange Commission (17 CFR 150.11), as follows: 

In Bushels 

Future Purchases Sales

May 795,000 545,000

July 3,455,000 4,015,000

December 1,490,000 1,255,000 Total 5,740,000 5,815,000

V 
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On or about May 21, 1973, respondent failed to properly prepare trading cards 

showing his purchases and sales of corn for future delivery. Respondent failed, 

on every such card, to show the commodity traded; failed, on many cards, to show 

the identity of the opposite floor broker; and failed, on some cards, to show 

the identity of the opposite clearing firm. 

VI 

By reason of the facts alleged in this complaint, the respondent wilfully 

violated sections 4a and 4g of the Commodity Exchange Act 

(7 U.S.C. 6a and 6g), section 150.11 of the orders of the Commodity Exchange 

Commission (17 CFR 150.11) and section 1.35 of the regulations under the 

Commodity Exchange Act (17 CFR 1.35). 

WHEREFORE, it is hereby ordered that this Complaint and Notice of Hearing be 

served upon the respondent 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, 01.2, 0.4(b), 0.5 through 0.22, 0.28). The 

respondent will have twenty (20) 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 three 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 

respondent is hereby notified that unless hearing is waived, a hearing will be 

held in Chicago, Illinois, at a place therein and date to be specified later, 

before a judge designated to conduct such hearing. At such hearing the 

respondent 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) suspending or revoking the registration of the 

respondent as floor broker, (2) prohibiting the respondent from trading on or 

subject to the rules of any contract market, and directing that all contract 

markets refuse all trading privileges to the respondent for such period of time 

as may be determined and (3) directing that the respondent shall cease and 

desist from violating the Act and the regulations in the manner alleged herein. 

It is ordered that this Complaint and Notice of Hearing be served on the 

respondent at least twenty (20) days prior to the date set for hearing. 

Done at Washington, D. C. 

October 2, 1973. 

[SEE SIGNATURE IN ORIGINAL] 

CLAYTON YEUTTER 

Assistant Secretary 

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