NOTICE OF DISCIPLINARY ACTION

FILE NO.:

CME 11-08549-FC

NON-MEMBER:

MARK SKUPIEN
 

CME RULE VIOLATIONS:

RULE 514 TRADING INFRACTIONS (in part)

A. Definition

The following shall constitute trading infractions:

9. conduct of an unbusinesslike nature

FINDINGS:

On October 5, 2011, a panel of the Chicago Mercantile Exchange (“CME”) Floor Conduct Committee (“FCC”) held a summary hearing pursuant to CME Rule 409 to address charges levied against Mark Skupien (“Skupien”) for intentionally disabling a member’s electronic communication device on September 22, 2011. Upon hearing the evidence presented by both parties, the FCC found Skupien guilty of violating CME Rule 514.A.9 (“Conduct of an Unbusinesslike Nature”), and fined him $20,000. The FCC also concluded that Skupien’s employer should be liable for the $20,000 fine.

On October 22, 2012, a panel of CME’s Business Conduct Committee (the “BCC Panel” or “Panel”) held a hearing on the appeal filed by Skupien. The BCC Panel found that the decision of the FCC was not arbitrary, capricious or an abuse of discretion, and affirmed the decision of the FCC finding Skupien guilty of violating CME Rule 514.A.9 and ordering Skupien to pay a fine in the amount of $20,000. The BCC Panel further affirmed the decision of the FCC to hold Skupien’s employer liable for the $20,000 fine.

PENALTY:

In accordance with the findings of the BCC Panel, Skupien is orderd to pay a fine in the amount of $20,000. Additionally, Skupien’s employer is liable for the $20,000.

EFFECTIVE DATE:

March 8, 2013