Top Brazil Sugar Producer Fires Traders After Exchange Fine

<-bsp-bb-link state="{"bbHref":"bbg://securities/RAIZ4%20BZ%20Equity/ESG","_id":"00000190-3b6c-d497-a7fb-ff6d38040000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Raizen SA dismissed three members of its sugar trading desk after Brazil’s top sugar producer was fined for potentially breaking rules set by a New York futures exchange.

The traders left the company last Friday due to compliance reasons, said the people, who asked not to be identified because the information is private. The departures leave key positions at the company vacant during the middle of the sugar cane harvest in Brazil, the world’s largest producer.

The exits followed a $100,000 fine imposed by <-bsp-bb-link state="{"bbHref":"bbg://securities/0140870D%20US%20Equity","_id":"00000190-3b6c-d497-a7fb-ff6d38050000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">ICE Futures US in April. The exchange, where raw sugar trades, said in a filing at ...