• NOTICE OF DISCIPLINARY ACTION

      • To
      • #
      • 15-CH-1501
      • Effective Date
      • 02 October 2015
    • CHICAGO BOARD OF TRADE

      NOTICE OF DISCIPLINARY ACTION

      FILE NO.: 15-CH-1501

      MEMBER FIRM: Deutsche Bank Securities Inc.

      CBOT RULE: 980. REQUIRED RECORDS AND REPORTS

      B. Each clearing member shall maintain an adequate accounting system, internal accounting controls, and procedures for safeguarding customer and firm assets. This includes, but is not limited to, the following:

      1. Preparation and maintenance of complete and accurate reconciliations for all accounts;

      2. Resolution of reconciling items in a timely manner; and

      3. Prevention of a material inadequacy as defined in CFTC Regulation 1.16(d)(2).                          

      FINDINGS: Pursuant to an offer of settlement in which Deutsche Bank Securities Inc. neither admitted nor denied the rule violations upon which the penalty is based, on October 1, 2015, the Clearing House Risk Committee found that Deutsche Bank Securities Inc. violated CBOT Rule 980.B.

      PENALTY: In accordance with the settlement offer, the Clearing House Risk Committee fined Deutsche Bank Securities Inc. $50,000.

      EFFECTIVE DATE: October 2, 2015