The LME found that RJ O’Brien Limited (“RJO”) is in breach of LME Notice 24/137 and imposed an automatic charge of £5,000.
LME Notice 24/137 sets out automatic fines for any Member who fails to submit Commodity Position Report (CPR) records and/or manage Collateral holdings on LMEsword in a timely and accurate manner. Any Member who fails to timely and accurately report CPR for five or more days in a calendar month will be subject to an automatic penalty charge.
Due to late CPR submissions by seven business days in April 2024, the LME imposed an automatic penalty of £5,000.00, which has been paid by RJO.
The LME reminds Members of the importance of timely and accurate CPR submission.