UBS to pay $500,000 penalty for failing to retain certain audio recordings
About 2.76% of total US recorded volume during 8 July 2019 to 23 December 2019 was deleted prematurely due to an analyst’s error.
Tag: Commodity Futures Trading Commission
ICE Clear Europe to pay $450,000 penalty for violating customer protection regulations
According to CFTC, ICE Clear Europe failed to obtain executed acknowledgement letters from the depository before, during or after the opening of six customer segregated accounts.
EU and US reach agreement on derivatives trading ahead of MiFID II
Decision means banks and traders can use US venues to trade derivatives in compliance with MiFID II.
Reporting software failures sees Morgan Stanley fined in the US
Morgan Stanley has been fined a total of $350,000 after the CFTC found it had omitted data from its Large Trader reports.
Ex-Citi traders fined $550k for spoofing US treasury future markets
Fines follow Citi’s $25 million penalty for spoofing US treasury futures markets in January this year.
JP Morgan slapped with $900k fine for overcharging clients
Clients were overcharged $7.8 million for clearing and exchange services, according to the CFTC.
London should brace for tough clearing equivalence conditions
CFTC’s Timothy Massad outlines the challenges the UK faces ahead of clearing equivalence negotiations after Brexit.
Swap reporting failures costs Soc Gen $450,000
Societe Generale failed to report FX swaps following a system update error.
CFTC teams up with FCA to support cross-border swap dealers
Regulators have signed a memorandum of understanding to support companies based in the UK and US.
Barclays fined half a million for record-keeping failures
Barclays fined $500,000 for failing to produce confirmations on over a thousand trades.