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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-05-12T21:06:00
HSBC was fined $45 million as part of a settlement with the Commodity Futures Trading Commission (CFTC) addressing charges its traders used manipulative and deceptive trading practices and that the bank committed recordkeeping failures related to a faulty third-party audio recording platform.
Registered swap dealer HSBC Bank USA violated the Commodity Exchange Act’s anti-fraud, anti-manipulation, and supervision provisions, the CFTC said Friday in its order. The bank also failed to adhere to recordkeeping provisions by not adequately responding when a third-party audio recording platform did not properly record entire voice calls on certain mobile phone calls over a five-month period in 2020, the agency said.
In a separate order Friday, the CFTC fined HSBC Bank USA, HSBC Securities, and HSBC Bank plc $30 million for admitted recordkeeping and supervision failures regarding use of off-channel communications by employees for conducting business.
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News and analysis for the well-informed compliance or audit exec.
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2023-11-30T22:06:00Z By Kyle Brasseur
Bank of America Securities agreed to pay $24 million in settling with the Financial Industry Regulatory Authority for allegedly failing to supervise the “spoofing” activities of two former traders in U.S. Treasury markets.
2023-10-02T17:53:00Z By Kyle Brasseur
Goldman Sachs, JPMorgan Chase, and Bank of America agreed to pay penalties totaling $53 million across settlements with the Commodity Futures Trading Commission addressing alleged swap reporting failures among their respective affiliates.
2023-09-21T19:27:00Z By Jeff Dale
Chicago-based swap dealer StoneX Markets agreed to pay $650,000 as part of a settlement with the Commodity Futures Trading Commission addressing admitted disclosure and supervision failures.
2024-07-26T19:18:00Z By Jeff Dale
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
2024-07-26T15:51:00Z By Aaron Nicodemus
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
2024-07-26T13:36:00Z By Adrianne Appel
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
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