Disciplinary Committee ruling | 2002 | Pre-arranged trading

Ruling Disciplinary Committee DSI (GC 02-04) dated 2002

The DSI Disciplinary Committee has ruled in a case against a Senior Securities Trader. The complaint concerned finding him guilty of pre-arranged trading, as determined by both the Euronext Disciplinary Committee and the Euronext Appeals Committee. The Respondent did not file a defense and was not present at the hearing. DSI found no reason to doubt the accuracy of the earlier rulings. The conduct was considered serious and in violation of DSI’s Code of Conduct.

Disciplinary Committee ruling

The Disciplinary Committee deemed the complaint founded and imposed on the defendant the measure of a reprimand, as well as a suspension of registration for one year. If the defendant re-registers within one year, the suspension will be effective for the remainder of that year.

Articles DSI Code of Conduct applicable: 7.1.1, 7.1.2, 7.2.1 and 7.2.2

Linkage to DSI Core Principles:

• Core principle 10: Act honestly.
  Pre-arranged trading undermines trust in fair and transparent markets and violates the core value of fairness.
• Core principle 5: Comply with rules.
  Failure to comply with the ban on pre-arranged trading is a direct violation of applicable regulations and internal standards.
• Core principle 1: Take responsibility.
  Respondent should have taken responsibility for its own actions and refrained from practices that damage trust in the industry.