• NOTICE OF DISCIPLINARY ACTION

      • #
      • CBT-RSRH-17-4842
      • Effective Date
      • 28 September 2017
    • FILE NO.:

      CBT-RSRH-17-4842

      MEMBER FIRM:

      RAND FINANCIAL SERVICES INC

      CBT RULES:

      CBT Rule 807. Open Long Positions During Delivery Month

      At such times and in such manner as shall be prescribed by the Manual, clearing members shall submit a complete and accurate record of dates of all open purchases for use in making deliveries. Clearing members shall be fully responsible for inventories submitted to the Clearing House. This rule shall not apply to trading in options contracts.

      FINDINGS:

      During the month of August 2017, Rand Financial Services, Inc. inaccurately reported long positions eligible for delivery in the August 2017 Soybean Meal futures contract.

      PENALTY:

      On September 10, 2017, the Rule 512 Committee, pursuant to Rule 512, assessed a fine in the amount of $1,500 against Rand Financial Services, Inc. for its violation of Rule 807.

      EFFECTIVE DATE:

      September 28, 2017