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It was alleged that I changed the price at which I executed the sale of wheat futures. In the incident on a very busy trading day I sold wheat futures to a broker at a price and when my trade checker checked the trade with the broker, the broker was limited to a price a penny lower than where i believed I'd sold it. I changed it to the price the broker had at my financial cost to the customers gain on the spot so we wouldn't have an out trade in the morning. The price we executed the trade didn't match time and sales because the wheat never traded that low in the time bracket,
Resolution
Acceptance, Waiver & Consent(AWC)
Sanctions
Suspension
Registration Capacities Affected
CBOT trading floor
Duration
5 days
Duration Explanation
I was suspended from the trading floor for 5 trading days in September of 1999. Uncertain of exact dates.
Broker Comment
The fine was levied by the Chicago Board of Trade, was paid in 1999. I resumed trading thereafter.
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.
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Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.