NOTICE OF DISCIPLINARY ACTION

FILE NO.:

COMEX 10-7526-BC

MEMBER:

JOHN FOLEY (AFOL)
 

NYMEX RULE VIOLATION:

432. GENERAL OFFENSES

It shall be an offense: 

Q. to commit an act which is detrimental to the interest or welfare of the Exchange or to engage in any conduct which tends to impair the dignity or good name of the Exchange

FINDINGS:

Pursuant to an offer of settlement in which John Foley (“Foley”) neither admitted nor denied the findings and after Foley voluntarily submitted himself to the jurisdiction of the Exchange for purposes of resolving this matter, on May 16, 2011, a panel of the COMEX Business Conduct Committee (the “Panel”) found that on September 9, 2010 during a telephone conversation with the CME Group Inc. Globex Control Center, Foley directed inappropriate language at the employee with whom he was speaking, an act that impaired the dignity or good name of the Exchange.

The Panel found that in so doing, Foley violated NYMEX Rule 432.Q (“General Offenses”). 

PENALTY:

In accordance with the settlement offer and its findings, the Panel ordered Foley to pay a fine to the Exchange in the amount of $3,000. This decision became final on May 16, 2011 and effective on May 18, 2011. 

EFFECTIVE DATE:

May 18, 2011