LEGACY CBOT REG. VIOLATION:
Appendix 3B (Functions & Responsibilities of Floor Clerks on the Exchange Floor)
The following activities are prohibited for Floor Clerks and Trainee Floor Clerks:
(5) Exercising discretion of any sort with respect to any order, including arbitrage.
After a full evidentiary hearing on the merits, on March 3, 2010, a Panel of the CBOT Business Conduct Committee (“Panel”) found that non-member clerk Rocco Dote, on August 25, 2006, exercised discretion over two customer orders, including instructing a broker which of two orders to execute. The Panel found that in so doing, Dote violated legacy Appendix 3B.
In accordance with the Panel’s findings, it fined Dote $5,000.
March 25, 2010
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