• NOTICE OF DISCIPLINARY ACTION

      • #
      • 12-CH-1206
      • Effective Date
      • 17 December 2012
    • 12-CH-1206

      EXCHANGE DISCIPLINARY ACTION

      CLEARING MEMBER: Deutsche Bank Securities Inc.

      CBOT RULE VIOLATION: Rule 971. Segregated, Secured and Cleared Swaps Customer Account Requirements 

      B. All FCM clearing members must submit a daily segregated, secured 30.7 and Cleared Swaps Customer amount statement, as applicable, through Exchange-approved electronic transmissions by 12:00 noon on the following business day.

      (legacy) E. All clearing members must provide written notice to the Audit Department of a failure to maintain sufficient funds in segregation, secured 30.7 or Cleared Swaps Customer accounts. The Audit Department must receive immediate written notification when a clearing member knows or should have known of such failure.

      FINDINGS: Pursuant to an offer of settlement in which Deutsche Bank Securities Inc. neither admitted nor denied the violations, the Clearing House Risk Committee found that Deutsche Bank Securities Inc. violated the above rules.

      PENALTY: In accordance with the settlement offer, the Committee imposed a $25,000 fine.

      EFFECTIVE DATE: December 17, 2012