The International Derivatives Market The CME Group has published a notice of disciplinary action against Ryan Dofflemeyer.
According to a settlement offer in which Ryan Dofflemeyer neither admitted nor denied the rule violation or the factual findings on which the penalty is based, a Chicago Mercantile Exchange (CME) Business Conduct Committee panel found that on March 25, 2022, March 30 , 2022 and April 26, 2022, Dofflemeyer executed three block trades in April 2022 Bitcoin futures contracts between accounts with common beneficial ownership for the purpose of transferring positions between accounts.
Dofflemeyer acted as the sole decision maker for the transactions, which lacked legal and independent bona fide business purposes.
Accordingly, Dofflemeyer knew or reasonably should have known that the transactions would produce laundering results.
The panel concluded that as a result of the above, Dofflemeyer violated CME Rule 534.
Pursuant to the settlement offer, the panel ordered Dofflemeyer to pay a $15,000 fine and serve a five business day suspension from access to any trading venue owned or controlled by CME Group and from direct and indirect access to any specified futures market, derivatives clearing organization or exchange execution facility owned or controlled by CME Group, continuing through the trade date of June 21, 2024.