Company: SVIX
Filing Date: 2025-09-16
Form Type: 424B3
Source: 0001213900-25-087932
Chunk: 173

Company: VS Trust
Filing Date: 2025-09-16
Form: 424B3
Chunk 173
---
 including customer complaints and notice of a complaint involving an employee, ADMIS failed to adequately remediate its processes, which thereby allowed violative conduct to persist for several years. The Panel therefore concluded that ADMIS violated CME Rule 432.W. In accordance with the settlement offer, the Panel ordered ADMIS to pay a $450,000 fine in connection with this case and companion cases CBOT and COMEX 20 -1401-BC($175,000 of which is allocated to CME). CME Case 23 -CH-2306— Pursuant to an offer of settlement in which ADMIS neither admitted nor denied the rule violations upon which the penalty is based, on March 16, 2023, the Clearing House Risk Committee found that ADMIS violated Customer Gross Margining Technical Overview Requirements and CME Rule 980.G. In accordance with the settlement offer, the Committee imposed a $100,000 fine. ICE Case 2021 -014— On March 15, 2023, a subcommittee of the Exchange’s Business Conduct Committee (“BCC”) determined that ADMIS may have violated legacy Exchange Rule 2.22 (currently Rule 2.12) by misreporting open interest in various Henry LD1 Fixed Price Futures contracts between January 2020 and January 2021 and by misreporting open interest for the December 2021 Cocoa Futures contract on November 15, 2021, the day before first notice day. The BCC additionally determined that ADMIS may have violated Exchange Rule 4.01(b) by failing to establish and administer proper procedures for reporting open interest. A fine was imposed on ADMIS in the amount of $70,000. CFTC Case 22 -50— On September 29, 2022, the CFTC issued an order simultaneously filing and settling charges against ADMIS. The order found that ADMIS failed to supervise its employees and agents in their handling of commodity interest accounts, and failed to perform its supervisory duties diligently. The order required ADMIS to pay a $500,000 civil monetary penalty and to cease and desist from any further violations of the Commodity Exchange Act (CEA) and CFTC regulations, as charged. CBOT Case 22 -CH-2202— Pursuant to an offer of settlement in which ADMIS neither admitted nor denied the rule violation upon which the penalty is based, on March 17, 2022, the Clearing House Risk Committee found that ADMIS violated