Company: EUO
Filing Date: 2025-03-28
Form Type: 424B3
Source: 0001193125-25-065647
Chunk: 251

Company: ProShares Trust II
Filing Date: 2025-03-28
Form: 424B3
Chunk 251
---
 generally prohibited business-related

-154

communication taking place via unapproved methods. Further, some of the same supervisory personnel responsible for ensuring compliance with the firms’ policies and procedures themselves used non-approved methods of communication to engage in business-related communications, in violation of firm policy. Case Background The orders find, with respect to several of the registrants, that DOE became aware during investigations into certain trading at the institutions that the institutions’ traders had been using unapproved communication methods on their personal devices for business-related communications. Following a review, each firm acknowledged to CFTC staff that it was aware of widespread and longstanding use by its employees of unapproved methods to engage in business-related communications. As a result of each registrant’s failure to ensure that its employees—including supervisors and senior-level employees—complied with communications policies and procedures, each registrant failed to maintain hundreds if not thousands of business-related communications, including communications in connection with its commodities and swaps businesses, and thus failed diligently to supervise its business as a CFTC registrant or registrants, in violation of CFTC recordkeeping and supervision provisions. Related Civil Action The Securities and Exchange Commission (SEC) today announced entry of orders filing and settling charges against several financial institutions and imposing civil monetary penalties for related recordkeeping and supervision violations. The DOE staff members responsible for these actions are James Wheaton, Devin Cain, Jack Murphy, Benjamin J. Rankin, Jake Mermelstein, Trevor Kokal, (and former staff members Candice Aloisi, Gabriella Geanuleas, and Gates Hurand); Alejandra de Urioste, R. Stephen Painter, Jr., Lenel Hickson, Jr, and Manal M. Sultan. CME Case #: DQA-24-1391. During the period of October 1, 2023, through December 31, 2023, UBS Securities LLC violated Rule 576 by failing to maintain current and accurate registrations in the Exchange Fee System. Additionally, UBS failed to ensure that Operator IDs at the firm were unique. On May 16, 2024, UBS Securities LLC, pursuant to Rule 512 (“Reporting Infractions”), was collectively issued a $10,000 fine for its violations of Rule 576 (see companion cases CBOT DQA-24-1391, NYMEX DQA 24-1391, and COMEX DQA 24-1391) as follows: CME - $2,500, CBOT - $2,