• NOTICE OF DISCIPLINARY ACTION

      • #
      • 12-CH-1207
      • Effective Date
      • 28 November 2012
    • 12-CH-1207

      EXCHANGE DISCIPLINARY ACTION

      CLEARING MEMBER: UBS Securities LLC 

      CBOT RULE VIOLATION:      Rule 930.F. Release of Excess Performance Bond

      Subject to exceptions granted by Clearing House staff, clearing members may only release performance bond deposits from an account if such deposits are in excess of initial performance bond requirements.

      FINDINGS: Pursuant to an offer of settlement in which UBS Securities LLC neither admitted nor denied the violations, the Clearing House Risk Committee found that UBS Securities LLC violated the above rule.

      PENALTY: In accordance with the settlement offer, the Committee imposed a $50,000 fine.

      EFFECTIVE DATE: November 28, 2012