Company: SVIX
Filing Date: 2025-09-16
Form Type: 424B3
Source: 0001213900-25-087932
Chunk: 162

Company: VS Trust
Filing Date: 2025-09-16
Form: 424B3
Chunk 162
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,000, and did not involve allegations of fraud or other willful misconduct); or •the action was brought by any other federal or state regulatory agency, a non -UnitedStates regulatory agency or a self -regulatoryorganization and involved allegations of fraud or other willful misconduct. Advantage CFTC Case 23 -45 On September20, 2023, the CFTC issued an order and settled charges against Advantage for failing to diligently supervise the handling of commodity interest accounts, which resulted in incomplete and inadequate oversight of its surveillance of customers’ trading activity for disruptive trading over a four -yearperiod, in violation of CFTC regulations. The order required Advantage to pay a $395,000 civil monetary penalty and to cease and desist from any further violations of its supervisory requirements. Marex CME/NYME/CEI Case 24 -1753-BC Pursuant to an offer of settlement, in which Marex Capital Markets, Inc. neither admitted or denied the Rule violations or factual findings upon which the penalty is based, on February26, 2025, a Panel of the CME Business Conduct Committee (“Panel”) found that on various occasions between December5, 2023, and February20, 2024, Marex reported inaccurate and untimely large trader positions and open interest to the Exchange and Clearing House. On trade date December19, 2023, positions in customer accounts were duplicated and reopened due to an incorrect setting to the firm’s back -officesystem, which caused the firm to report inaccurate open interest. The adjustments Marex submitted following these errors were late and resulted in significant position adjustments. 99 Additionally, from December 5 through7, 2023, and February 2 through20, 2024, as a result of incorrect account setup issues and missed large trader adjustment deadlines, Marex: (1) submitted inaccurate large trader position reports to the Exchange; (2) failed to submit position change data to the Clearing House in a timely manner; and (3) failed to accurately report concurrent long and short positions as open positions and/or accurately report reductions to these positions. The Panel found that as a result of the foregoing, Marex violated CME Rules 561.A., 811, and 854.C. In accordance with the settlement offer, the Panel ordered Marex to pay a fine in the amount of $200,000 in connection with this case and companion cases NYMEX 24 -1753-BC, COMEX 24