• NOTICE OF DISCIPLINARY ACTION

      • #
      • NYMEX 11-8625-BC-1
      • Effective Date
      • 09 June 2016
    • NON-MEMBER:

      MICHAEL TARULLO

      EXCHANGE RULES: RULE 432. General Offenses (in part)

      It shall be an offense:

      L. 1. To fail to appear before the Board, Exchange staff or any investigative or hearing committee at a duly convened hearing, scheduled staff interview or in connection with any investigation;

      FINDINGS:

      Pursuant to an offer of settlement that Michael Tarullo (“Tarullo”) presented at a hearing on June 7, 2016, in which Tarullo neither admitted nor denied the factual allegations or rule violation upon which the penalty is based, a Panel of the NYMEX Business Conduct Committee (“Panel”) found that Tarullo consented to the jurisdiction of the Exchange and further found that on or about May 2013 Tarullo declined to appear before Exchange staff for a requested interview.

      The Panel concluded that Tarullo violated Exchange Rule 432.L.1.

      PENALTY:

      In accordance with the settlement offer, the Panel ordered Tarullo to be permanently banned from (a) applying for Membership at any CME Group exchange; (b) direct or indirect access to any trading or clearing platform owned or controlled by the CME Group, Inc.; and (c) access to any trading floor owned or operated by any CME Group, Inc. exchange.