CME imposes $50,000 fine on Wedbush Securities
International derivatives marketplace CME Group has posted a notice of disciplinary action as to Wedbush Securities Inc.
The disciplinary action stems from alleged violations of CBOT Rule 980 which states:
“Each clearing member shall prepare, maintain and keep current those books and records required by the rules of the Exchange, the Commodity Exchange Act and the Regulations thereunder. Such books and records shall be open to inspection and promptly provided to the Exchange upon request”.
Pursuant to an offer of settlement in which Wedbush Securities Inc. neither admitted nor denied the rule violation upon which the penalty is based, the Clearing House Risk Committee found that Wedbush Securities Inc. violated CBOT Rule 980.A.
In accordance with the settlement offer, the Committee imposed a $50,000 fine.