The CFTC reports that it has ordered Wells Fargo Bank, N.A. to pay a $400,000 civil monetary penalty for “failing to comply with its obligations to submit accurate large trader reports (LTRs) for physical commodity swap positions.” The bank, a provisionally registered swap dealer since 2012, neither admitted nor denied the CFTC’s findings, but agreed… Read More >>
Barclays Penalized for EFRP Records Violations
A U.S. regulator has cited Barclays Bank on charges of record-keeping violations and is imposing a $500,000 civil monetary penalty upon the bank, months after the U.K. banking giant was cited for problems with its submissions of large trader reports (LTRs) on physical commodity swap positions. The CFTC, the regulator in both cases, is now… Read More >>