FINANCIAL AND REGULATORY BULLETIN
TO: Chief Executive Officers; Chief Compliance Officers; Chief Financial Officers; Individual Members
DATE: September 27, 2016
SUBJECT: Amendments to CME/CBOT/NYMEX/COMEX Rule 437. Notice of Discipline
Effective October 12, 2016, and pending all relevant CFTC regulatory review periods, CME, CBOT, NYMEX and COMEX (collectively, the “Exchanges”) will adopt amendments to Rule 437 to, in part, clarify the posting of Exchange disciplinary actions on CME Group’s website.
The amendments to each Exchange Rule 437 will require notices of disciplinary action to be posted on CME Group’s website and will no longer require the notices be posted, though they may continue to be posted, on the floor of the Exchanges. Further, with the dissemination and publication on CME Group’s website, Clearing House Risk Committee disciplinary actions will no longer be posted on the floors of the Exchange.
The amended rule is stated below.
437. NOTICE OF DISCIPLINE
Notice, in accordance with Section 8c(a)(2) of the Commodity Exchange Act, shall be made available to an internet accessible computer database at the National Futures Association and to an internet accessible computer database at CME Group and shall be provided to any Member or non-member who is suspended, expelled, disciplined or denied access to the Exchange within 30 days after the decision becomes final. Additionally, a written notice may be posted on the floor of the Exchange for five business days promptly after the disciplinary action becomes effective. The notice shall include the Member's or non-member’s name, the Rule(s) violated, the reason for the Exchange's action and the action taken or penalty imposed.
If you have any questions, please contact the Financial and Regulatory Surveillance Department at (312)930-3230.
Register for regular updates here and manage your email preferences.