Ouch, this one is harsh.

Haven't been following these disciplinary notices for long, but this is the first time I've seen one of these types.

www.cmegroup.com/notices/disciplinary/2018/05/cme-18-0856-hana-financial-investment.html

 

"this access denial will remain in effect for 60 days"

Not so harsh then?

 

I know it's just 60 days, TWO months!!! No monetary fines, no jail time, no permanent ban, no nothing. And this is harsh? Hopefully, they could use this 2 months time to get their s*** together and stop reporting phony information to the exchange.

 

Yes, the 60 days bit seems weak, but it was this bit that caught my attention...

"The summary access denial prohibits Hana, and anyone through Hana accounts, from trading, placing orders, and controlling or directing the trading for any person, entity, or account in any CME Group exchange product."

Sux to be a Hana client.

 

Im sure clients got enough notice to close open positions.
And it doesnt take long to open an account with another broker.

 

There is a big Hana Bank in Korea. Wonder if related?

 

Yes - a subsidiary of Hana Financial Group (market cap approx 12 billion USD).