Fan Zhang agreed to pay a fine of US $250,000 to resolve a Commodity Futures Trading Commission administrative proceeding that claimed he intentionally engaged in matching buy and sell orders on four days in 2012 and 2013. The Commission alleged that these transactions were wash sales in violation of applicable law and fictitious sales, contrary to CFTC rule. Mr. Zhang allegedly entered into these transactions to transfer over US $200,000 from an account in the name of an investment club he created, and in which he was a partner, to an account in the name of his mother. According to the CFTC, Mr. Zhang’s mother was not aware of the money transfers. Mr. Zhang previously was sanctioned by the CME Group in connection with some of the transactions at issue in the CFTC action. In the CME matter, Mr. Zhang agreed to a fine of US $7,500 and a 25-day trading prohibition.