Commerzbank AG Fined $12 Million for Swap Dealing Violations
Posted: Thu Nov 08, 2018 10:54 am
The US Commodity Futures Trading Commission (CFTC) has ordered Commerzbank AG to pay a civil penalty of $12 million to settle charges that it made misleading statements and material omissions as well as failed to supervise its swap dealing activities, the agency said on Thursday.
Commerzbank has been registered with the CFTC as a Swap Dealer since the end of 2012. According to the Order, from December 31, 2012, until at least 2018, the commodities regulator found that Commerzbank’s failure to supervise its Swap Dealer was systematic and resulted in thousands of regulation violations of the CFTC and Commodity ... (read more)