JSC VTB Bank and VTB Capital to Pay CFTC $5m for Unlawful Execution of Trades
Posted: Mon Sep 19, 2016 6:06 am
The US Commodity Futures Trading Commission (CFTC) today filed an order and simultaneously settled charges against Russian banking institution, JSC VTB Bank (VTB), and VTB Capital PLC (VTB Capital), for executing fictitious and non-competitive block trades in Russian ruble/US dollar.
VTB Capital, a UK incorporated bank, is 94 percent owned by a holding company that, in turn, is 100 percent owned by VTB.
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Case History
Between December 2010 and June 2013, VTB and VTB Capital executed on the CME in excess of 100 block trades in RUB/USD ... (read more)