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Swap Dealer Settles CFTC Charges for Trade Reporting and Business Conduct Violations

A CFTC-registered London-based swap dealer settled CFTC charges for violating trade reporting and business conduct requirements.

According to the order, the swap dealer (i) failed to report or did not accurately report certain swaps, (ii) failed to make certain required disclosures under the CFTC external business conduct requirements, and (iii) failed to diligently supervise its employees.

To settle the charges, the swap dealer agreed to pay a $3.25 million penalty and cease and desist from future violations of CEA and CFTC rules.

Primary Sources

  1. CFTC Press Release: CFTC Orders London-Based Swap Dealer to Pay $3.25 Million for Swap-Data Reporting, Conflicts of Interest, Mid-Market Mark, and Supervision Failures
  2. CFTC Order: ED&F Man Capital Markets, Ltd.

Tags

Regulated Activities
Disclosures Trade Reporting
Regulated Entities
Swap Dealers / SBSDs
Regulated Products
Swaps / SBS
Body of Law
CEA Regulation
Jurisdiction
US - Federal
Organization
CFTC, NFA, CFTC Markets
Sub-Author
CFTC