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Commodity Futures Trading Commission 

CEA CASES 

NAME: MARK J. GAMBER 

DOCKET NUMBER: 196 

DATE: AUGUST 25, 1972 

DOCUMENT TYPE: COMPLAINT 

UNITED STATES DEPARTMENT OF AGRICULTURE 

BEFORE THE SECRETARY OF AGRICULTURE 

In re: Mark J. Gamber, Respondent 

CEA Docket No. 196 

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, Mark J. Gamber, an individual whose business address is 316 

South La Salle, Room 1135, Chicago, Illinois 60604, is now, and was at all times 

material herein, a member of the Chicago Board of Trade and a partner in the 

firm of M. F. Gamber, a clearing member of the Chicago Board of Trade. The 

respondent was registered on February 14, 1972, as a floor broker under the 

Commodity Exchange Act and is presently so registered. 

II 

The Chicago Board of Trade is now, and was at all times material herein, a 

duly designated contract market under the Commodity Exchange Act. 

III 

On the dates listed below, the respondent made speculative trades for his own 

account in soybean 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 150.4), as follows: 

No. of Bushels 

Date Purchased Sold 

1971 April 6 2,420,000 2,400,000 

April 23 2,365,000 2,320,000 

April 26 2,040,000 2,025,000 

April 27 2,355,000 2,415,000 

May 25 2,165,000 2,195,000 

IV 

In an effort to conceal from the Commodity Exchange Authority his trading in 

excess of the maximum permissible limits on the three days he was required to 

submit trading reports (Form 203) to the Authority - April 26 and 27 and May 25, 

1971 - the respondent: (1) with respect to the trades made on April 26, marked 

his trading cards to indicate that 95,000 bushels of the purchases and 95,000 

bushels of the sales had been made for the house account of the firm of M. F. 

Gamber, and omitted such transactions from his trading report to the Commodity 
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Exchange Authority; (2) with respect to the trades made on April 27, marked his 

trading cards to indicate that 

400,000 bushels of the purchases and 400,000 bushels of the sales had been made 

for the house account of the firm of M. F. Gamber, and omitted such transactions 

from his trading report to the Commodity Exchange Authority; and (3) with 

respect to the trades made on May 25, marked his trading cards to indicate that 

205,000 bushels of the purchases and 205,000 bushels of the sales had been made 

for the house account of the firm of M. F. Gamber, and omitted such transactions 

from his trading report to the Commodity Exchange Authority. The respondent, in 

connection with the trades referred to in paragraph III above, followed the 

general practice of failing to identify on his trading cards the opposite floor 

brokers and traders with whom he traded, and frequently used trading cards which 

failed to reveal that he executed such trades. 

V 

The transactions in soybean futures referred to in this complaint were 

capable of being used for hedging transactions in interstate commerce in 

soybeans or the products or by-products thereof, or for determining the price 

basis of transactions in interstate commerce in such commodities, or for 

delivering such commodities sold, shipped or received in interstate commerce for 

the fulfillment of such futures contracts. 

VI 

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

violated sections 4a, 4i and 6(b) of the Commodity Exchange 

Act (7 U.S.C. 6a, 6i, 9), section 1.35 of the regulations issued under the Act 

(17 CFR 1.35), and section 150.4 of the orders of the Commodity Exchange 

Commission (17 CFR 150.4). 

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, 0.2, 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 referee 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 regulations in 

the manner alleged herein. 
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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. 

August 25, 1972 

[SEE SIGNATURE IN ORIGINAL] 

Richard E. Lyng 

Assistant Secretary 

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