• NOTICE OF DISCIPLINARY ACTION

      • #
      • COMEX 15-0351-BC-2
      • Effective Date
      • 17 October 2018
    • NON-MEMBER:

      JAE MYUN KO

      RULE VIOLATION: NYMEX RULE 432. GENERAL OFFENSES (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 5, 2018, a Panel of the Commodity Exchange (“COMEX”) Probable Cause Committee charged Jae Myun Ko (“Ko”) with violating NYMEX Rule 432.L.1. based on allegations that, between April 2016 and July 2016, Ko failed to appear before Exchange staff for a scheduled interview.

      On August 8, 2018, a Hearing Panel Chair of the COMEX Business Conduct Committee (“BCC”) entered an order finding that Ko failed to answer the charge against him. The Hearing Panel Chair further ordered that Ko was deemed to have admitted the charges issued and waived his right to a hearing on the merits of the charges.

      On September 27, 2018, a penalty hearing was held before a panel of the COMEX BCC (“BCC Panel”) which found that Ko had committed the violation charged.

      PENALTY:

      In accordance with NYMEX Rule 402.B (Sanctions), the BCC Panel ordered Ko to serve a permanent ban from membership privileges, access to any CME Group, Inc. trading floor, and direct and indirect access to all electronic trading and clearing platforms owned or controlled by CME Group, Inc.