Case Summary

SUNCOR ENERGY MARKETING INC NYME 13-9498-BC SUNCOR ENERGY MKTNG INC. NFA ID: 0479624

 Respondent/Effective Date Summary 
 NFA IDRespondentEffective Date
 0479624SUNCOR ENERGY MARKETING INC08/15/2014
 Rule Summary 
 NFA IDRespondentRule Type
 0479624SUNCOR ENERGY MARKETING INC• 534 - WASH TRADES PROHIBITED
  • 432.W. - General Offenses - Failure to Supervise
 Committee Summary 
 NFA IDRespondentCommittee
 0479624SUNCOR ENERGY MARKETING INC• BUSINESS CONDUCT COMMITTEE
 Action Summary 
 NFA IDRespondentAction Types
 0479624SUNCOR ENERGY MARKETING INC• TRADE PRACTICE
 Penalty/Event Summary 
 NFA IDRespondentPenalty/EventEvent Date
 0479624SUNCOR ENERGY MARKETING INC• FINE PAID $4000008/21/2014
 Narrative Summary 
Narrative for 0479624 - SUNCOR ENERGY MARKETING INC
Pursuant to an offer of settlement Suncor Energy Marketing Inc. (“Suncor”) presented at a hearing on August 13, 2014, in which Suncor neither admitted nor denied the rule violations upon which the penalty is based, a Panel of the NYMEX Business Conduct Committee (“BCC Panel”) found that it had jurisdiction over Suncor pursuant to Rules 402 and 418, and that for the time period August 2012 to November 2012, traders employed by Suncor executed trades in the Crude Oil Futures contract between three accounts with the same beneficial owner in order to offset positions in the expiring contract. The Panel also found that Suncor failed to diligently supervise its traders in a manner sufficient to ensure that they were familiar with Exchange rules such as through appropriate compliance training.

The BCC Panel found that as a result, Suncor violated NYMEX Rules 432.W and 534.

In accordance with the settlement offer, the BCC Panel ordered Suncor to pay a fine to the Exchange in the amount of $40,000.

This action became final on August 13, 2014 and effective August 15, 2014.