[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: 17CFR12.18]

[Page 276-277]
 
              TITLE 17--COMMODITY AND SECURITIES EXCHANGES
 
             CHAPTER I--COMMODITY FUTURES TRADING COMMISSION
 
PART 12_RULES RELATING TO REPARATIONS--Table of Contents
 
Subpart A_General Information and Preliminary Consideration of Pleadings
 
Sec.  12.18  Answer; election of procedure.

    An answer filed pursuant to Sec.  12.16 of these rules shall meet 
the following requirements:
    (a) Content. Each answer shall contain:
    (1) The full name, current address and telephone number (during 
business hours) of each respondent on whose behalf the answer is filed;
    (2) A complete description of each registrant's case, including but 
not limited to, a precise and detailed statement of the facts which 
constitute each registrant's ground for defense;
    (3) Admissions, if any, as to the registrant's liability for the 
amount (or any portion thereof) claimed as damages;
    (4) A statement indicating whether the registrant is (and if the 
answer is filed on behalf of two or more registrants, which if any of 
them are) in receivership or subject to bankruptcy proceedings;
    (5) A statement indicating whether an arbitration or civil court 
litigation,

[[Page 277]]

based on the same set of facts set forth in the complaint (involving any 
or all of the parties named therein), is pending;
    (6) A counterclaim which the registrant wishes to pursue under Sec.  
12.19 of these rules;
    (7) An election of an alternative decisional procedure pursuant to 
subparts C, D, or E of these rules. (A proceeding pursuant to subpart D 
may be elected only if the amount of actual damages claimed in the 
complaint or as counterclaims, exclusive of interest, costs, and 
punitive damages, does not exceed $30,000. A procedure pursuant to 
subpart E may be elected only if the amount of actual damages claimed in 
the complaint or as counterclaims, exclusive of interest, costs, and 
punitive damages exceeds $30,000;
    (8) If appropriate, a filing fee in the amount prescribed by Sec.  
12.25 shall be submitted with an answer at the time of its filing.
    (b) Motion for reconsideration of determination to forward the 
complaint. An answer may include a motion for reconsideration of the 
determination to forward the complaint, specifying the grounds therefor, 
which the Director of the Office of Proceedings, in his discretion, may 
grant by terminating the case pursuant to Sec.  12.27, or deny by 
forwarding the pleadings and matters of record for an elected decisional 
proceeding pursuant to Sec.  12.26. The inclusion in an answer of a 
motion for reconsideration shall not preclude a respondent, if the 
motion is denied, from moving for dismissal at a later stage of the 
proceeding for the same reasons cited in a motion for reconsideration 
pursuant to this paragraph.
    (c) Subscription and verification of the answer. An answer shall be 
signed personally by each registrant on behalf of whom it is filed or by 
a duly authorized officer or agent of any such registrant who is not a 
natural person. Each registrant's signature shall be given under oath, 
or by affirmation under penalty of law, attesting that he has read the 
answer; that to the best of his knowledge all of the statements in the 
answer, the counterclaim (if any), and the materials required by these 
rules to be appended thereto, are accurate and true, and that the answer 
(and counterclaim, if any) has not been interposed for delay.
    (d) Affidavit of service. The registrant shall file with his answer 
an affidavit showing that he has served a true copy of the answer upon 
the complainant, either personally or by first-class mail addressed to 
the complainant at the address set forth in the complaint.
    (e) Time and place of filing an answer. An answer shall be filed by 
mailing or delivering a copy thereof, in proper form, to the Commission 
at its principal office in Washington, DC, addressed to the Office of 
Proceedings, Attention of the Proceedings Clerk. The answer may be filed 
in person, during normal business hours, or by certified mail, or 
registered mail with return receipt requested. If filing is by mail, it 
shall be addressed to the Proceedings Clerk, Office of Proceedings, 
Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st 
Street, NW., Washington, DC 20581.

[49 FR 6621, Feb. 22, 1984, as amended at 59 FR 9637, Mar. 1, 1994; 60 
FR 49335, Sept. 25, 1995]