Stephen Bethell Suspended by Chicago Mercantile Exchange

Stephen Bethell (CRD #: 5198330), a broker registered with Morgan Stanley & Company, allegedly violated CME rules, according to his BrokerCheck record, accessed on January 12, 2023. Read on to learn more about his alleged conduct as a broker.

Suspension by CME

On October 27, 2022, the Chicago Mercantile Exchange alleged that Stephen Bethell disclosed non-public order information while soliciting counterparties for a buy order. The CME also alleged that he placed orders opposite another trader at the firm for different beneficial owners without exposing one of the orders on the Globex trading system for at least 15 seconds.

The CME alleged that Stephen Bethell violated CME Rules 532 and 533.

CME Rules 532 and 533

CME Rule 532 prohibits the disclosure of another person’s non-public order information except to designate exchange officials or the Commodity Futures Trading Commission.

CME Rule 533 defines the conditions under which exchange members may match buy and sell orders for different beneficial owners, including the exposure of one of these orders on the Globex platform.

Sanctions

Stephen Bethell faced the following sanctions:

• $10,000 fine
• 5-business-day suspension from accessing any CME Group-owned or -controlled trading floor, Designated contract market (DCM), derivatives clearing organization (DCO), or Swap Execution Facility (SEF)

His suspension ran from October 27 to November 2, 2022.

Background Information

Stephen Bethell has passed the following exams:

• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination

He has also worked for Newedge USA (CRD#:36118).

Kurta Law Can Help

If you worked with Stephen Bethell and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.