• NOTICE OF DISCIPLINARY ACTION

      • #
      • CBOT 08-00132-BC
      • Effective Date
      • 28 March 2011
    • FILE NO.:

      CBOT 08-00132-BC


      MEMBER:

      TIM MROZINSKI (MWR)


      CBOT RULE VIOLATION:

      432. General Offenses

      It shall be an offense:

      W. for a Member to fail to diligently supervise its employees and agents in the conduct of their business relating to the Exchange.


      FINDINGS:

      Pursuant to an offer of settlement in which Tim Mrozinski (“Mrozinski”) neither admitted nor denied the findings, on March 23, 2011, a Panel of the CBOT Business Conduct Committee (the “Panel”) made the following findings: from January 2007 through March 7, 2008, Mrozinski was a CBOT member trader independently contracted with a proprietary trading firm. During this period Mrozinski failed to diligently supervise his non-member clerk in conducting business relating to the Exchange, to wit: failed to monitor his clerk’s Globex order entry activity.

      On March 7, 2008, without authorization, Mrozinski’s clerk purchased 495 June 2008 30-Year U.S. Treasury Bond futures through the CME Globex electronic trading platform, the offset of which resulted in a loss of $248,828 to the proprietary account.

      The Panel found that in so doing Mrozinski violated CBOT Rule 432.W.


      PENALTY:

      In accordance with the settlement offer, the Panel fined Mrozinski $15,000, and suspended his direct and indirect access to all CME Group Inc. electronic trading and clearing platforms and barred him from membership at any CME Group exchange until payment of his fine and for a period of 30 business days thereafter.


      EFFECTIVE DATE:

      March 28, 2011