ICE Futures U.S. has posted a notice of disciplinary action against Pacific Investment Management Company LLC (PIMCO).

On March 19, 2025, a subcommittee of the Exchange’s Business Conduct Committee (BCC) determined that Pacific Investment Management Company LLC (PIMCO) may have violated Exchange Rule 4.02(c) from September 6 through September 29, 2023, when employees placed orders, including through different and independent executing brokers, for two accounts with common beneficial ownership in the California Carbon Allowance Vintage 2023 contract, a portion of which ultimately matched opposite one another.

Based on information obtained, it appeared that the employees did not intend for the orders to match, however, they should have known that the orders would trade opposite one another.

In accordance with the terms of settlement, in which PIMCO neither admitted nor denied the alleged rule violations, PIMCO agreed to pay a monetary penalty of $100,000.