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;
On October 29, 2015, a Panel of the New York Mercantile Exchange (“NYMEX”) Probable Cause Committee charged non-member Leeann Wood (“Wood”) with violating NYMEX Rule 432.L.1. based on allegations that Wood failed to appear before Exchange staff for a scheduled interview.
On April 11, 2016, a Hearing Panel Chair of the NYMEX Business Conduct Committee (“BCC”) entered an order finding that Wood failed to answer the charge against her. The Hearing Panel Chair further ordered that Wood was deemed to have admitted the charges issued and waived her right to a hearing on the merits of the charges.
On June 7, 2016, a penalty hearing was held before a panel of the NYMEX BCC (“BCC Panel”) which found that Wood had committed the violation charged.
In accordance with NYMEX Rule 402.B (Sanctions), the BCC Panel ordered Wood to (1) 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.
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