The CFTC recently issued its Rule Enforcement Review for the CME, CBOT, NYMEX and COMEX covering the target period from April 1, 2012 to March 31, 2013. In its review, the CFTC noted that the CME Group Exchanges assessed a total of $6,301,500 in fines and $2,023,900 in disgorgement during the target period. Additionally, the CME Group Exchanges required the payment of $602,631 in customer restitution. Suspensions ranged from five days to 25 years and 10 respondents received permanent bars.
During the target period, 16 warning letters were issued by the Market Regulation Department and the Business Conduct Committee. Of the 93 cases that were closed during the period in question, 64 were closed in less than 12 months, 23 cases lasted between 12 months and 24 months, and 6 cases lasted more than 24 months. In cases that were open for more than a year, 4 cases were not promptly prosecuted due to insufficient staffing. Finally, the CFTC noted 9 cases that lasted 12 months or more were protracted primarily due to internal deliberations of CME Group staff.