Member access

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

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

09/09/2013 | 05:45pm US/Eastern
Recommend:
0

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
Recommend :
0
React to this article
Latest news
Date Title
<1m ago ENERGOUS : Signs JDA With Second Major Semiconductor Company Adding Power-Management to Energous' WattUp(TM) Wire-Free Charging Reference Designs
<1m ago Information Architects Signs Larry Gatlin as Voice Talent for Feature Film
<1m ago FRNT 2012 Ltd. - Closing of transaction
<1m ago VLCCF - Closing of transaction
<1m agoDJU.S. HOT STOCKS : Hot Stocks to Watch
<1m ago BERKSHIRE HATHAWAY HOMESERVICES GEORGIA PROPERTIES : Recognized as One of Atlanta's Best Places To Work by the Atlanta Business Chronicle
1m ago YOKOTA MANUFACTURING : Cancellation - PORTABLE & MOBLE RADIO
1m ago MISAWA : Combined Synopsis/Solicitation - Motorola Dispatch Console
1m ago LABORATORY OF AMERICA : Special Notice - LABCORP
1m ago DOW CHEMICAL : DE/ : Other Events, Financial Statements and Exhibits (form 8-K)
Latest news
Advertisement
Hot News 
DIXONS CARPHONE : HELPING HANDSET ; Dixons jobs for Phones4u staff in its stores as ex-boss warns of price rises
THALASSA : Revenue Jeopardised By EU Sanctions Against Russia
CRANEWARE : Ups Dividend As Profit Rises In Improving US Market
TLA WORLDWIDE : *numis raises tla worldwide price target to 55 (52) pence - 'buy'
GREEN DRAGON GAS : Appointment of Corporate Broker
Most Read News
1d ago GENERAL MOTORS : Exclusive: U.S. safety chief raps GM's 'flawed' culture on recalls
1d ago APPLE : releases tool to remove free U2 album
2h ago Orange strikes 3.4 billion euros deal to buy Spain's Jazztel
1d ago CONVERSANT : SHAREHOLDER ALERT: Brower Piven Announces Investigation Of Conversant, Inc. In Connection With The Proposed Sale Of The Company To Alliance Data Systems Corporation
1d ago Germany's ZF to take over TRW Automotive for $13.5 billion
Most recommended articles
14m agoDJBusiness-Jet Travel Set for Smoother Internet Over the Ocean - Corporate Intelligence
14m agoDJRussia to Set Up Military Unit in Crimea
15m ago Scottish vote brings investor uncertainty - Coverley
16m ago Funding risks remain for several eurozone banks - S&P
17m ago Weak gasoline, food prices dampen U.S. producer inflation
Dynamic quotes  
ON
| OFF