CFTC Charges Barclays Bank $560K For Inaccurate Large Trader Reports
Posted: Tue Jul 05, 2016 6:56 pm
The U.S. Commodity Futures Trading Commission (CFTC) has today charged Barclays Bank PLC for failing to submit accurate large trader reports for physical commodity swap positions, in violation of the Commodity Exchange Act. Barclays Bank has been provisionally registered with the CFTC as a Swap Dealer since 12 December, 2012.
Large Trader Reports
Large trader reporting for physical commodity swaps is essential to the CFTC’s ability to conduct effective surveillance of markets in U.S. physical commodity futures and economically equivalent swaps. Swap Dealers are required to submit large trader reports which are expected to be in full compliance with the Commission’s regulatory ... (read more)