CME fines trading floor participants for social distancing rule violations
CME Group has announced a set of actions concerning violations of rules for wearing face masks and keeping distance on its trading floor.
Let’s note that the requirements and conditions for re-opening CME’s trading floor stipulate that all all members and employees of members while on the trading floor must wear face shields or face masks in accordance with the Personal Protective Equipment requirements and Enhanced Cleaning Precautions. Also, social distancing has to be maintained in accordance with the Guidelines for Trading Floor Access.
Failure to comply with these requirements and conditions will result in the matter being directed to the Chief Regulatory Officer for handling pursuant to the provisions of Rule 513.B.4. (“Conduct, Apparel, Badges – Sanctions”) which authorizes the Chief Regulatory Officer to impose a fine up to $5,000 per offense.
CME has announced the imposition of fines on: Robert Crosby, Joseph Cosenza, Kurt Kabat, Mandino Fratto and Michael Lysaght.
All of the respondents violated socialdistancing and face shield guidelines after repeated warnings by Exchange staff on numerous dates in February 2021. Hence, each of them will have to pay a fine of $500.
The notices regarding the fines are effective March 19, 2021.