• NOTICE OF DISCIPLINARY ACTION

      • #
      • NYMEX 16-0524-BC-1
      • Effective Date
      • 16 July 2019
    • NON-MEMBER:

      AARON DAO-CHANG PANG

      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 April 9, 2019, a Panel of the New York Mercantile Exchange (“NYMEX”) Probable Cause Committee charged Aaron Dao-Chang Pang (“Pang”) with violating NYMEX Rule 432.L.1. based on allegations that Pang failed to appear before Exchange staff for a scheduled interview.

      On June 7, 2019, a Hearing Panel Chair of the NYMEX Business Conduct Committee (“BCC”) entered an order finding that Pang failed to answer the charge against him. The Hearing Panel Chair further ordered that Pang was deemed to have admitted the charge issued and waived his right to a hearing on the merits of the charge.

      On June 26, 2019, a penalty hearing was held before a panel of the NYMEX BCC (“BCC Panel”) which found that Pang had committed the violation charged.

      PENALTY:

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