The Cork Board

[investor15]

CFTC subpoenas metals warehouse company

* The Commodity Futures Trading Commission has subpoenaed ( http://tinyurl.com/mpbl2qt ) an unnamed metals warehousing firm for all of its documents and communications related to the London Metal Exchange since January 2010, Reuters reports.

* The subpoena focuses on "anything that relates to moving metal from one warehouse to another within the same company... and procedures for loading out."

* The CFTC last month ordered the warehouse to preserve emails, documents and instant messages from the past three years. In July, the NYT reported ( http://tinyurl.com/kq2bdu2 ) that warehouses which received such an order included Goldman Sachs (GS), Glencore (GLNCY.PK) and Noble Group (NOBGF.PK)

* Meanwhile, Department of Justice officials has visited a warehousing company different to the one referred to above and asked about its operations.

* Warehouses have been under increasing scrutiny over allegations that their activities have artificially boosted the price of metals, particularly aluminum.

http://seekingalpha.com/currents/commodities
(special thanks to basserdan)