RBC Dominion Securities Inc has agreed to pay a $30,000 fine for alleged violations of Cboe Futures Exchange, LLC (CFE) rules.
On or about January 11, 2022, an account maintained by the company had an open position in VX futures contracts at the close of trading equal to or greater than 200 contracts on a market side. As the account had a reporting position, the account was reported as a special account and the CFTC Form 102A was due no later than 9:00 AM. on January 12, 2022. The company filed with the Exchange a copy of CFTC Form 102A via web-based OCR reporting in May 2023.
These acts, practices and conduct constitute violations of Exchange Rule 412B(b)(i) by the company in that the company failed, in the manner and form prescribed by the Exchange, to file with the Exchange no later than 9 p.m. .m. business day after the date on which the special account became reportable, a copy of the CFTC Forms 102A that the Company was required to report to the Commission pursuant to the Commission’s regulations.
From or about January 11, 2022 to or about August 28, 2023, the special account had open positions in VX futures contracts at the close of trading each trading day equal to or greater than 200 contracts on each side of the market. From or about January 11, 2022 to or about August 28, 2023, the Company did not submit the aforementioned positions to the CFE electronically through the OCC.
These acts, practices and conduct constitute violations of Exchange Rule 412B(b)(ii) by the company in that it failed to report to the Exchange, in the manner and form prescribed by the Exchange, reportable positions in contracts VX futures that the company was required to report to the Commission pursuant to Commission regulations.
RBC Dominion Securities has no prior relevant disciplinary history relevant to the reporting requirements of CFE Rule 412B(b).
In light of the alleged violations of the rules described above, the company agreed to a monetary penalty of $30,000.