To make our monthly futures exchange reports more concise and user-friendly, we have narrowed the scope to cover relevant enforcement actions and generally not to cover routine exchange issuances.
Violation of Rules 521 – Requirements for Open Outcry Trades (in part); 539 – Prearranged, Pre-negotiated and Noncompetitive Trades Prohibited (in part). On more than one occasion between July 9, 2013, and July 31, 2015, a member allegedly executed a portion of customer orders that was not bid openly and competitively in the pit. Specifically, after a customer entered both buy and sell orders for the same product and strategy, the member executed the smaller quantity of the opposing buy or sell order opposite the larger buy or sell order held by another broker from his group. $35,000 fine, 30 day suspension.
Violation of Rules 521 – Requirements for Open Outcry Trades (in part); (Legacy) Rule 432 – General Offenses (in part); 539 – Prearranged, Pre-negotiated and Noncompetitive Trades Prohibited (in part). On one or more occasions from April 9, 2009, through May 6, 2010, a member allegedly engaged in trades as a local in the Corn futures pit that were not competitively executed by open outcry, and realized $1,837.50 in profits as a result of such trades as a local. 30 day suspension, $1,837.50 in disgorgement.
– See more at: http://www.natlawreview.com/article/us-futures-exchanges-disciplinary-actions-report-january-2016#sthash.PQ3WXVwk.dpuf