• NOTICE OF DISCIPLINARY ACTION

      • #
      • COMEX 16-0587-BC-3
      • Effective Date
      • 16 November 2018
    • NON-MEMBER:

      LILI HAO

      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 August 9, 2018, a Panel of the Commodity Exchange (“COMEX”) Probable Cause Committee charged Lili Hao (“Hao”) with violating NYMEX Rule 432.L.1. based on allegations that Hao failed to appear before Exchange staff for a scheduled interview.

      On October 17, 2018, a Hearing Panel Chair of the COMEX Business Conduct Committee (“BCC”) entered an order finding that Hao failed to answer the charge against her. The Hearing Panel Chair further ordered that Hao was deemed to have admitted the charge issued and waived her right to a hearing on the merits of the charge.

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

      PENALTY:

      In accordance with NYMEX Rule 402.B (Sanctions), the BCC Panel ordered Hao 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.