[Code of Federal Regulations]
[Title 17, Volume 1]
[Revised as of April 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 17CFR8.16]

[Page 217]
 
              TITLE 17--COMMODITY AND SECURITIES EXCHANGES
 
             CHAPTER I--COMMODITY FUTURES TRADING COMMISSION
 
PART 8_EXCHANGE PROCEDURES FOR DISCIPLINARY, SUMMARY, AND MEMBERSHIP DENIAL 
 
                    Subpart B_Disciplinary Procedure
 
Sec.  8.16  Settlement offers.

    (a) The rules of an exchange may permit a respondent to submit a 
written offer of settlement to the disciplinary committee at any time 
after the investigation report is completed. The disciplinary committee 
may accept the offer of settlement, but may not alter its terms unless 
the respondent agrees.
    (b) The rules of an exchange may provide that the disciplinary 
committee, in its discretion, may permit the respondent to accept a 
penalty without either admitting or denying the rule violations upon 
which the penalty is based.
    (c) If an offer of setlement is accepted by the disciplinary 
committee, it shall issue a written decision specifying the rule 
violations it has reason to believe were committed and any penalty to be 
imposed. Where applicable, the decision shall also include a statement 
that the respondent has accepted the penalties imposed without either 
admitting or denying the rule violations.
    (d) The respondent may withdraw his offer of settlement at any time 
before final acceptance by the disciplinary committee. If an offer is 
withdrawn after submission, or is rejected by the disciplinary 
committee, the respondent shall not be deemed to have made any 
admissions by reason of the offer of settlement and shall not be 
otherwise prejudiced by having submitted the offer of settlement.

(Approved by the Office of Management and Budget under control number 
3038-0022)

[43 FR 41950, Sept. 19, 1978, as amended at 46 FR 63036, Dec. 30, 1981]

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