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CFTC toughens approach towards First State Depository, Argent Asset Group
The United States Commodity Futures Trading Commission (CFTC) is displeased with the lack of response by First State Depository Company, LLC and Argent Asset Group LLC to its requests for information in precious metals fraud investigation. On May 5, 2021, the CFTC filed a set of documents with the District Court for the District of Columbia. The regulator requests that the Court issue an order requiring Respondents First State and Argent to show cause why the Court should not compel them to comply with administrative subpoenas issued to them in 2019 and 2020. First State, a Delaware business entity, is a “private ... (full story)