[Code of Federal Regulations]
[Title 17, Volume 1]
[Revised as of April 1, 2006]
From the U.S. Government Printing Office via GPO Access
[CITE: 17CFR12.106]

[Page 287-288]
 
              TITLE 17--COMMODITY AND SECURITIES EXCHANGES
 
             CHAPTER I--COMMODITY FUTURES TRADING COMMISSION
 
PART 12_RULES RELATING TO REPARATIONS--Table of Contents
 
     Subpart C_Rules Applicable to Voluntary Decisional Proceedings
 
Sec.  12.106  Final decision and order.

    (a) When a final decision is required. After all submissions of 
proof have been received, the Judgment Officer shall make the final 
decision. Upon its issuance, the final decision shall forthwith be filed 
with the Proceedings Clerk, and immediately served on the parties. The 
Proceedings Clerk shall also serve a notice, to accompany the final 
decision, of the effect of a failure by a party ordered to pay a 
reparation award to file the documents required by Sec.  12.407(c) of 
these rules.
    (b) Content of final decision. The final decision shall contain:
    (1) A briefly stated conclusion, not accompanied by findings of 
fact, as to whether the respondent violated any provision of the Act, 
Commission's regulations or orders, resulting in damages to the 
complainant; and
    (2) If one or more counterclaims have been permitted in the 
proceeding, a brief conclusion, not accompanied by findings of fact, as 
to whether the complainant is liable to the respondent for such 
counterclaims; and
    (3) A determination of the amount of damages, if any, sustained by 
complainant or respondent in connection with reparation claims or 
counterclaims, and an order against a party found liable for damages 
directing that party to pay an award. An award in

[[Page 288]]

favor of the complainant shall not exceed the amount of damages in the 
complaint (including any amendment thereto), and an award in favor of a 
respondent shall not exceed the amount of damages claimed in a 
counterclaim (including any amendment thereto).

A conclusion made pursuant to paragraph (b)(1) of this section shall not 
be deemed a finding of the Commission for the purposes of Section 8a of 
the Commodity Exchange Act.
    (c) No assessment of prejudgment interest or costs. A party found 
liable for damages in a voluntary decisional proceeding shall not be 
assessed prejudgment interest, attorney's fees, or costs (other than the 
filing fee and costs assessed as a sanction for abuse of discovery.
    (d) Effect of final decision and order: No appeal. A party may not 
appeal to the Commission a final decision issued pursuant to subpart C 
of these rules. In accordance with the election and waivers described in 
Sec.  12.100(b), a final decision may not be appealed to a U.S. Court of 
Appeals pursuant to section 14(e) of the Commodity Exchange Act, but a 
final decision shall be recognized as a final order of the Commission 
for all other purposes including the judicial enforcement of an award 
made in connection with the final decision pursuant to section 14(d) of 
the Commodity Exchange Act.
    (e) Effective date of final decision. A final decision and order 
shall become effective thirty (30) days after service, unless the 
Commission pursuant to Sec.  12.403 takes review of the decision on its 
own motion on or before the thirtieth day. Any reparation award ordered 
in a final decision pursuant to this rule shall be satisfied in full 
within forty-five (45) days after service thereof, unless the Commission 
pursuant to Sec.  12.403(b) stays the duty of satisfaction. Any party 
who fails timely to satisfy such an award is subject to the automatic 
suspension provisions of Sec.  12.407(c).

[49 FR 6621, Feb. 22, 1984, as amended at 59 FR 9637, Mar. 1, 1994]