Chee Ming Seow
NYMEX RULE VIOLATION: RULE 432. GENERAL OFFENSES
It shall be an offense:
B.2. to engage in conduct or proceedings inconsistent with just and equitable principles of trade.
Pursuant to an offer of settlement that Chee Ming Seow (“Seow”) presented at a hearing on November 23, 2015, in which Seow neither admitted nor denied the findings or the rule violation upon which the penalty is based, a Panel of the NYMEX Business Conduct Committee (“BCC”) found that it had jurisdiction over Seow pursuant to Exchange Rules 400 and 418, and that on six dates between January 21, 2014 and June 5, 2014, Seow brokered and arranged several transactions for the purpose of transferring $65,000 from one firm to another in order to correct an operational error made in a prior transaction.
The Panel found that as a result of the foregoing, Seow violated NYMEX Rules 432.B.2.
In accordance with the settlement offer, the Panel ordered Seow to pay a fine to the Exchange in the amount of $15,000. The Panel also ordered Seow to serve a 10 business day suspension from (a) applying for Membership to any CME Group, Inc. 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. The suspension will run from November 25, 2015 through December 9, 2015 inclusive.
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