ICE Futures US has published a notice of disciplinary action against RJ O’Brien & Associates LLC (RJO).
On June 6, 2024, a subcommittee of the Exchange’s Business Conduct Committee determined that from May 2021 to April 2023 (the “Relevant Period”), RJO may have violated Exchange Rule 4.15(a) by failing to assign to certain customers their own unique identifications and Exchange Rule 4.15(b) allowing employees to improperly use and share RJO-related identities with such customers for numerous Exchange-listed block transactions.
The Commission further determined that, during the Relevant Period, RJO may have violated Exchange Rule 4.01(a) by failing to diligently supervise the Exchange-related activities of its employees and Exchange Rule 4.01(b) by failing to establish , administer and enforce supervisory systems, policies and procedures, which are reasonably designed to achieve compliance with the Exchange Rules.
Under the terms of the settlement, in which RJO neither admitted nor denied the alleged rule violations, RJO agreed to pay a $250,000 monetary penalty.