• NOTICE OF DISCIPLINARY ACTION

      • #
      • COMEX 15-0292-BC-2
      • Effective Date
      • 16 February 2018
    • NON-MEMBER:

      Ho Kai Chak

      EXCHANGE RULE: Rule 432.L.1 General Offense (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:

      On June 22, 2017, a Panel of the Commodity Exchange (“COMEX”) Probable Cause Committee charged Ho Kai Chak (“Ho”) with violating Exchange Rule 432.L.1. based on the allegations that Ho failed to appear at two scheduled staff interviews.

      On December 6, 2017, a Hearing Panel Chair of the COMEX Business Conduct Committee (“BCC”) entered an order finding that Ho failed to answer the charge against him. The Hearing Panel Chair further ordered that Ho was deemed to have admitted the charge issued and waived his right to a hearing on the merits of the charge.

      On January 30, 2018, a penalty hearing was held before a panel of the COMEX BCC (“BCC Panel”) which found that Ho had committed the violation charged.

      PENALTY:

      In accordance with Exchange Rule 402.B. (Sanctions) the BCC Panel ordered that Ho 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 CME Group, Inc., including CME Globex.