CFTC Orders Florida Residents Ted L. Romeo, Richard D. Schrutt, And Their Company Cypress Wealth Management Group, Inc. To Pay Restitution And Civil Monetary Penalties Totaling More Than $530,000 In Precious Metals Enforcement Action - Order Also Permanently Bars Respondents From Trading On CFTC-Regulated Markets

The U.S. Commodity Futures Trading Commission (CFTC) today filed an Order instituting proceedings and settling charges against Respondents Cypress Wealth Management, Inc. (Cypress), and its former owners and operators, Ted L. Romeo of Pompano Beach, Florida, and Richard D. Schrutt of Tampa, Florida. The CFTC Order charged Respondents with illegally offering off-exchange financed transactions in precious metals to retail customers and failing to register with the CFTC as a Futures Commission Merchant (FCM), as required.