Page 29 - 期货和衍生品行业监管动态（2022年10月）

期货和衍生品行业监管动态

过 4 年都未被发现（也未被纠正）。此外，根据行政令查明，这些持续和反复出

现的问题表明，BGCD 获取并向公众和 CFTC 传递准确完整的交易信息的能力是

不足的。行政令还查明，BGCD 明知其缺乏将报告和 SEF 的交易活动进行核对
的程序，但未及时建立和实施核对程序或其他政策和程序，以大幅减少（如果不

能消除）这些报告和发布错误。

7. CFTC Orders Swap Execution Facility to Pay $1.9 Million for Swap

Reporting and Core Principle Violations (2022/9/30)

The Commodity Futures Trading Commission today issued an order

simultaneously filing and settling charges against BGC Derivative Markets, L.P.

(BGCD), a swap execution facility (SEF), for failing to report or accurately report

thousands of swap transactions to the CFTC, a swap data repository (SDR), or the

public; failing to timely correct reporting errors; and violating SEF Core Principles.

The order requires BGCD to cease and desist from further violations, pay a $1.9
million civil monetary penalty, and to comply with specified undertakings—including

conducting a comprehensive review of its swaps reporting program and implementing

a reconciliation process for transactions occurring on and reported by the SEF. The

order further requires BGCD to submit a written report to the CFTC in one year. In

the report, BGCD’s Chief Compliance Officer and Chief Executive Officer must

certify that BGCD’s reconciliation process and compliance program are reasonably

designed to detect and prevent violations of the Commodity Exchange Act (CEA) and

CFTC regulations that are the subject of the order.

“Today’s enforcement action highlights the importance of accurate and timely

swaps reporting and makes clear that persistent and recurring reporting failures

violate SEF Core Principles. Accurate and timely swaps reporting is necessary for the

CFTC to safeguard the integrity of our markets and to ensure market transparency,”
said CFTC Acting Director of Enforcement Gretchen Lowe.

Case Background

19