BNY, formerly BNY Mellon, will pay a $5 million fine to the Commodity Futures Trading Commission (CFTC) for “significant reporting failures” related to its swap dealer business.

The details: From 2018-23, BNY “repeatedly” failed to properly report the associated persons connected to five million swap transactions to a registered swap dealer repository, according to the CFTC’s order published Monday.

Learn More
Already a member? Sign in to an existing account.

Aaron Nicodemus is the Editor-in-Chief of Compliance Week. He previously worked as a reporter for Bloomberg Law and as business editor at the Telegram & Gazette in Worcester, Mass. Email: aaron.nicodemus@complianceweek.com LinkedIn:...