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Case Summary

CITIGROUP GLOBAL MARKETS INC CEI 12-9147-BC CITIGROUP GLOBAL MKTS INC NFA ID: 0002026

Respondent/Effective Date Summary
 NFA IDRespondentEffective Date
 0002026CITIGROUP GLOBAL MARKETS INC05/30/2014
Rule Summary
 NFA IDRespondentRule Type
 0002026CITIGROUP GLOBAL MARKETS INC• Rule 811 - Position Change Data
  • 561 - REPORTS OF LARGE POSITIONS
Committee Summary
 NFA IDRespondentCommittee
 0002026CITIGROUP GLOBAL MARKETS INC• BUSINESS CONDUCT COMMITTEE
Action Summary
 NFA IDRespondentAction Types
 0002026CITIGROUP GLOBAL MARKETS INC• TRADE PRACTICE
Penalty/Event Summary
 NFA IDRespondentPenalty/EventEvent Date
 0002026CITIGROUP GLOBAL MARKETS INC• FINE PAID $300006/05/2014
Narrative Summary
Narrative for 0002026 - CITIGROUP GLOBAL MARKETS INC
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.

 
 
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