HSBC Securities to pay $50k fine for alleged violations of CME rules
International derivatives marketplace CME Group has posted a notice of disciplinary action against HSBC Securities (USA) Inc.
Pursuant to an offer of settlement in which HSBC Securities (USA) Inc. neither admitted nor denied rule violations, the Clearing House Risk Committee found that HSBC Securities (USA) Inc. violated CME Rule 980.A.
CME Rule: 980. REQUIRED RECORDS AND REPORTS
A. 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.
In accordance with the settlement offer, the Committee imposed a $50,000 fine.
The effective date of the disciplinary notice is November 10, 2023.