LME has found R.J. O’Brien Limited (“RJO”) to be in breach of LME Notice 24/137 and has imposed an automatic penalty charge of £5,000.
The LME Notice 24/137 sets out automatic penalty charges for any Member who fails to submit Commodity Position Report (CPR) files and/or manage Warrant holdings in LMEsword in a timely and accurate manner. Any Member that fails to report CPR in a timely and accurate manner on five or more days in a calendar month will be subject to an automatic penalty charge.
Due to late CPR submissions on seven business days in the month of April 2024, the LME imposed an automatic penalty charge of £5,000.00, which has been paid by RJO.
The LME reminds Members of the importance of timely and accurate CPR submissions.
