Page 509 - 《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

CFTC Orders 11 Financial Institutions to Pay Over $710 Million for
Recordkeeping and Supervision Failures for Widespread Use of Unapproved

Communication Methods

Registered Swap Dealers and FCMs Admit Use of Texts, WhatsApp and Other

Unapproved Methods to Conduct Business (2022/9/27)

The Commodity Futures Trading Commission today issued orders

simultaneously filing and settling charges against swap dealer and futures commission

merchant (FCM) affiliates of 11 financial institutions for failing to maintain, preserve,

or produce records that were required to be kept under CFTC recordkeeping

requirements, and failing to diligently supervise matters related to their businesses as

CFTC registrants.

The settling registrants admit the facts detailed in the orders (with Bank of

America and Nomura neither admitting nor denying certain specific findings of the
Division of the Enforcement’s (DOE) investigation), are ordered to cease and desist

from further violations of recordkeeping and supervision requirements, and are

ordered to engage in specified remedial undertakings.

The settling swap dealers and FCMs and their civil monetary penalties are:

 Bank of America (Bank of America, N.A.; BofA Securities, Inc.;

and Merrill Lynch, Pierce, Fenner & Smith Incorporated (which was

registered as an FCM until May 2019 and is currently registered as an

introducing broker)), $100 million

 Barclays (Barclays Bank, PLC and Barclays Capital Inc.), $75

million

 Cantor Fitzgerald (Cantor Fitzgerald & Co.), $6 million

 Citi (Citibank, N.A.; Citigroup Energy Inc.; and Citigroup Global
Markets Inc.), $75 million

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