• Home
  • What is DCM?
  • Where is DCM useful?
  • Where to start?
  • 8 Questions for a CFO or CPO
  • About
    • Our Leadership
  • Contact
  • Compliance and Monitoring
  • DCM Blog
  • COVID-19
  • Home
  • What is DCM?
  • Where is DCM useful?
  • Where to start?
  • 8 Questions for a CFO or CPO
  • About
    • Our Leadership
  • Contact
  • Compliance and Monitoring
  • DCM Blog
  • COVID-19

DCM Blog 
​Industry, Compliance, Strategy and Regulatory Updates

Wash Trades, who cares? Ask the firm that just got fined $100K - read it below

9/10/2018

0 Comments

 
Enterprise Products just got fined $100K for having multiple wash trades over a 10 month in 2016. The trades were in multiple energy contracts and they were trades between accounts with the same beneficial owner (looks like trades in the exchange across books but not the same account - which would have been a cross trade.). The notice also cited lack of training of staff that contributed to the occurrences.

We like to think of market regulation fines as "parking tickets" - something of a nuisance. The problem is, if left unaddressed, they can turn into speeding tickets. Surveillance of manipulation isn't the only thing compliance needs to cover - compliance with basic market regulations is important too. The notice is here - https://www.cmegroup.com/notices/disciplinary/2018/09/NYMEX-17-0641-BC-1-ENTERPRISE-PRODUCTS-PARTNERS-LP.html#pageNumber=1

​DCM LLC can help with compliance training and surveillance needs. We would be happy to speak with you.
0 Comments



Leave a Reply.

    Thomas Lord

    DCM Founder
    Commodity Adviser

    Archives

    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    February 2020
    January 2020
    December 2019
    November 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    July 2018
    June 2018

    Categories

    All

    RSS Feed

    View my profile on LinkedIn
Proudly powered by Weebly