NOTICE OF DISCIPLINARY ACTION

FILE NO.:

NYMEX 09-16-BC

 
MEMBER:

JAMES NARIN (NAR)

EXCHANGE RULE:

8.55(B)(10)(a) Classification of Offenses

(B) Minor Offenses – No Member, Member Firm, or any employee of the foregoing shall commit a violation of any of the following rules, which shall be deemed minor offenses of the Exchange.

(10) Supervision;

(a) to fail to supervise any employee of a Member or Member Firm adequately to prevent violations of Exchange Rules by such employee.
 

FINDINGS:

Pursuant to an offer of settlement in which James Narin (also known as Broker “NAR”), neither admitted nor denied the findings or any rule violations, the panel of the NYMEX Business Conduct Committee (hereinafter known as the “BCC Panel”), found that from July 14, 2008 to August 21, 2008, James Narin failed adequately to supervise his clerk to prevent the clerk from trading NYMEX products. The BCC Panel found that in so doing James Narin violated Exchange Rule 8.55(B)(10)(a). The BCC Panel accepted the terms of the offer at a settlement hearing on January 26, 2010.

PENALTY:

In accordance with the settlement offer the BCC Panel ordered James Narin to (1) pay a fine in the amount of $10,000; and (2) to cease and desist from any future violations of similar rules. 
 

EFFECTIVE DATE:

April 12, 2010