NOTICE OF DISCIPLINARY ACTION

FILE NO.:

NYMEX 10-01-BC

NON-MEMBER CLERK:

SHAUN O’BRIEN

(LEGACY) RULES: Legacy NYMEX Rule 8.00(E)

The Compliance Department shall investigate the conduct and transactions of Members, Member Firms and employees of any of the foregoing and may examine the books and records of Members, Member Firms and employees of the foregoing Members, Member Firms and employees of any of the foregoing shall make their books and records available to the Compliance Department at the time, place, and in the manner designated by the Compliance Department.

Legacy Exchange Rule 8.55 Classification of Offenses

(A) Major 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 major offenses of the Exchange.

(12) to refuse to appear before the Board, the President or his designee or any investigative and hearing committee at a duly convened investigative hearing, or in connection with any investigation; to refuse to fully answer all questions and produce all books and records at such hearing or investigation, or to testify falsely; 

FINDINGS:

After conducting a settlement hearing on October 25, 2010, a panel of the NYMEX Business Conduct Committee (“BCC Panel”) found that Mr. O’Brien failed to appear for a scheduled interview with CME Group Market Regulation Department (formerly the NYMEX Compliance Department) staff in connection with an investigation. Market Regulation acknowledged that Mr. O’Brien’s failure to appear for the scheduled interview did not affect their investigation(s) of Mr. O’Brien or any other individuals or entities.

The BCC Panel found that in so doing Mr. O’Brien violated legacy NYMEX Division Rule 8.00(E) and legacy Exchange Rule 8.55(A)(12).

PENALTY:

In accordance with its findings, the BCC Panel ordered that Mr. O’Brien:

(1) be barred from reapplying for clerk privileges or applying for membership privileges, including but not limited to, access to any CME Group trading floor and direct access to any CME Group electronic trading or clearing platforms for a period of twelve (12) months from the effective date of the NFA 9.11 Notice; and

(2) cease and desist from subsequent similar rule violations.

This decision became final on October 25, 2010 and effective on October 27, 2010.
 

EFFECTIVE DATE:

October 27, 2010