Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News  >  Commodities

News : Commodities

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 

CFTC - U.S. Commodity Futures Trading Commission : CFTC Releases Rule Enforcement Review of the CBOE Futures Exchange

share with twitter share with LinkedIn share with facebook
share via e-mail
0
09/09/2013 | 11:45pm CEST

September 9, 2013

Washington, DC - The Commodity Futures Trading Commission (Commission) today notified CBOE Futures Exchange (CFE) of the results of a rule enforcement review completed by the Commission's Division of Market Oversight (Division). The review covered the target periods from November 1, 2009 to November 1, 2010 (first target period) and November 1, 2010 to August 1, 2012 (second target period). The Division evaluated the Exchange's compliance with Core Principles 10 (Trade Information) and 17 (Recordkeeping), which relate to an exchange's audit trail program for the recording and safe storage of trade information in a manner which enables prevention of customer and market abuses and enforcement of exchange rules.

The Division found that CFE maintains an adequate audit trail program, and commends the Exchange for substantial improvements during the second target period, including the development of a comprehensive new audit trail exam program and a significant increase in staffing.

Although the Division found that the Exchange's overall audit trail program was adequate, it also identified specific areas in which CFE should improve. Specifically, the Division recommended that all logs maintained by CFE contain accurate and meaningful dates, including the dates on which staff began and completed its work on a matter. Similarly, the Division recommended that CFE include in its case reports the date on which the report was approved by senior compliance staff and the signature of the approving compliance official.

The Division also recommended that the Exchange reduce the time it takes to complete audit trail investigations, and that it continue to focus on reducing the time taken to complete annual audit trail exams of trading privilege holders.

Lastly, the Division found the quality and documentation of CFE's investigations and examinations work to be thorough and complete, with one exception. Accordingly, the Division recommended that the Exchange take prompt disciplinary action when it identifies violations of its audit trail or recordkeeping requirements by persons subject to CFE's rules.

Copies of the report are available from the Commission's Office of Public Affairs, Three Lafayette Centre, 1155 21st Street N.W., Washington, DC 20581, 202-418-5080, or by accessing the Commission's website at www.cftc.gov.

Last Updated: September 9, 2013

distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Commodities"
11:10a Oil steady as high U.S. output balances crude stock draw
11:05a Oil steady as high U.S. output balances crude stock draw
10:54a BHP BILLITON : to spend $2.5 billion on extending life of Chilean copper mine
10:24aDJBHP BILLITON : Approves $2.46 Billion For Investment in Chile Copper Mine
10:16aDJNEWS HIGHLIGHTS : Top Energy News of the Day
10:09aDJLONDON MARKETS : FTSE 100 Slips, With Banks Bitten After Fed Rate-hike Debate
09:31aDJChina Shanghai Rubber Futures Closing Prices, Volume
09:18aDJHARMONY GOLD MINING : Profit Falls After Making Lawsuit Provision -- Update
08:55aDJHARMONY GOLD MINING : Profit Falls After Making Lawsuit Provision
08:25aDJGOLD FIELDS : 1H17 Profit Down 54% at $53 Million -- Update
Latest news "Commodities"
Advertisement