• Reminder Regarding Giving and Receiving of Gratuities

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • CME Group RA1313-5
      • Notice Date
      • 02 December 2013
      • Effective Date
      • 02 December 2013
    • As a reminder, each Exchange's Rule 508 ("Giving and Receiving of Gratuities") prohibits members, member firms, broker associations, trading groups and employees of these individuals and entities from giving gifts or gratuities in excess of $100 per year to any employee of another member, member firm, broker association or trading group. This rule is substantially similar to the restrictions imposed under FINRA Rule 3220 ("Influencing or Rewarding Employees of Others").
      The text of Rule 508 is reprinted below:
      A member, member firm, broker association, trading group or an employee of any of the foregoing may not give, directly or indirectly, to any employee of another member, member firm, broker association or trading group any gratuities or gifts with an aggregate market value in excess of $100 within any twelve-month period.
      This rule applies notwithstanding any internal policy of an entity that allows for gifts in excess of $100. The requirements of this rule apply to both the providers and the recipients of such gifts and gratuities.
      Questions regarding this advisory may be directed to the following individuals in Market Regulation:
      Steve Schwartz, Executive Director and Global Enforcement Counsel, 212.299.2853
      Nancy Minett, Executive Director, 212.299.2940
      Robert Sniegowski, Senior Director, 312.341.5991
      For media inquiries concerning this Advisory Notice, please contact CME Group Corporate Communications at 312.930.3434 or news@cmegroup.com.