Page 22 - 期货和衍生品行业监管动态（2025年9月）

期货和衍生品行业监管动态

registered futures commission merchant, commodity pool operator, and

commodity trading advisor (collectively, UBS), were sanctioned for failing

to diligently supervise trade surveillance systems from at least 2015 until

2024, leaving gaps in monitoring foreign exchange, metals, rates, and credit

products and exchange-traded derivatives. UBS will pay a $5 million civil

monetary penalty and submit a remediation plan with progress reports.

 Citigroup Global Markets Inc., a registered futures commission merchant

and swap dealer, was sanctioned for failing to file accurate large trader

reports from at least 2015 to fall 2022 due to a programming logic error, and

for failing to reliably maintain regulatory records for 10 weeks in

2023.Because of these failures, as well as a 2022 supervision-related issue

concerning daily excess net capital reporting, Citi will pay a $1.5 million

civil monetary penalty, which was reduced by the maximum mitigation

credit based on its exemplary self-reporting and exemplary cooperation.

Recordkeeping and Supervision Violations Related to Offline

Communications

Three orders involve firms whose employees used unapproved communication
channels, such as messaging apps and personal text messages, violating recordkeeping

and supervision rules. Each firm will pay a $500,000 civil monetary penalty, which

was reduced by the maximum cooperation mitigation credit based on exemplary

cooperation.

 SMBC Capital Markets, Inc., a registered swap dealer, was cited for

violations from 2019 to 2023.

 Banco Santander, S.A., a registered non-U.S. swap dealer; and Santander

US Capital Markets LLC, a registered futures commission merchant

(collectively, Santander), were cited for violations since 2021. Santander

must also comply with certain remedial undertakings, including conducting

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