Page 441 - 《期货和衍生品行业监管动态》（2022年合集）

期货和衍生品行业监管动态

在接受银行的和解提议时，CFTC 认可其在执法部门调查此事期间的实质性

配合。CFTC 指出其已通过减少民事罚款的形式认可该银行的实质性配合和补救

措施。

CFTC Charges Swap Dealer for Failure to Supervise Valuation Activities on

Two Derivatives Trading Desks (2022/9/6)

The Commodity Futures Trading Commission today issued an order filing and

settling charges against Natixis, a global bank and swap dealer, for failure to

diligently supervise traders on the bank’s New York-based Interest Rate Derivatives

Desk (IRD Desk) and its Equity Derivatives Flow and Solution Trading Desk (FAST

Desk). The traders on the IRD Desk and FAST Desk separately engaged in

misconduct by mismarking their positions for the purpose of either inflating profits
and minimizing losses, or to “smooth” out returns, respectively. The order requires

Natixis to pay a $2.8 million civil monetary penalty, cease and desist from violating
applicable provisions of the Commodity Exchange Act (CEA) and CFTC regulations,

and comply with certain conditions and undertakings.

“Swap dealers must comply with their supervisory and regulatory responsibilities

under the CEA and Commission regulations, and ensure that their valuation controls

are properly calibrated to ensure that derivatives positions reflect fair value,” said

CFTC Acting Director of Enforcement Gretchen Lowe.

Case Background

The order finds that Natixis failed to diligently supervise the activities of the IRD

Desk. Between January 2015 and at least April 2018, a trader on the bank’s IRD

Desk submitted false or misleading entries in the bank’s internal recordkeeping and

accounting system relating to the marking of the end-of-day USD LIBOR forward

curve (Closing Curve), for the purpose of inflating the unrealized profit and loss (P&L)
of the desk he managed and disguising significant trading losses. Specifically, the

trader engaged in a pattern of marking the Closing Curve in a manner that varied from

377
回 到 首 页 回 到 目 录