|Pursuant to an offer of settlement Citigroup Global Markets, Inc. (“Citigroup” or the “Firm”) presented at a hearing on May 28, 2014, in which Citigroup neither admitted nor denied the rule violation upon which the penalty is based, a Panel of the COMEX Business Conduct Committee (“BCC”) found that it had jurisdiction over Citigroup pursuant to Exchange Rules 400 and 402 as the conduct occurred while Citigroup was a COMEX member, and that on trade date November 15, 2012, Citigroup reported several instances of inaccurate large trader positions for numerous COMEX contracts, in which it provided a corrected large trader file after the adjustment deadline of 9:00 a.m. CST, as well as reported four instances of inaccurate open interest position.
The Panel found that, as a result, Citigroup violated Exchange Rules 811 (Position Change Data) and 561 (Reports of Large Positions).
In accordance with the settlement offer, the Panel ordered Citigroup Global Markets, Inc. to pay a fine to the Exchange in the amount of $3,000.
This action became final on May 28, 2014 and effective May 30, 2014.
Please see companion cases NYMEX 12-9147-BC, CBOT 12-9146-BC, and CME 12-9146-BC.