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The U.S. Commodity Futures Trading Commission (CFTC) has ordered the Bank of New York Mellon to pay a $5 million penalty. This decision comes after the bank was found to have failed in properly reporting millions of swap transactions and in supervising a unit that deals with derivatives. The violations also include a breach of a prior CFTC order. The settlement highlights the regulatory focus on ensuring compliance with swap reporting and supervision standards.
Bank of New York Mellon to pay $5 mln over swap reporting, supervision failures, CFTC says https://t.co/F9fyFCYmBX https://t.co/rpykC50pi6
The Bank of New York Mellon has agreed to pay $5 million to settle CFTC charges for repeatedly failing to correctly report millions of swap transactions, violating a previous order, the regulator said in a statement https://t.co/FXEp8Rp81K https://t.co/apQxgb4v4z
Bank of New York Mellon will pay a $5 million penalty after a US regulator said that it failed to properly report millions of swaps transactions and supervise a unit that deals the derivatives. https://t.co/sugXtBSGUu