StoneX admits disclosure, supervision lapses in $650K CFTC settlement
By 
Jeff Dale2023-09-21T19:27:00
A Chicago-based swap dealer agreed to pay $650,000 as part of a settlement with the Commodity Futures Trading Commission (CFTC) addressing admitted disclosure and supervision failures.
StoneX Markets failed to disclose thousands of pre-trade mid-market marks (PTMMM) and to diligently supervise its disclosure process, the CFTC announced in a press release Wednesday. The firm was ordered to complete a remediation plan and submit reports to the CFTC’s Division of Enforcement on its compliance.
From March 2016 to at least June 2022, StoneX failed to comply with the CFTC’s business conduct standards by not properly training and monitoring associated persons regarding its disclosure requirements, the agency said in its order.
Related articles
-
News BriefGoldman, JPMorgan, Bank of America caught in CFTC swap reporting sweep
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.
-
News BriefGTT Communications spared fine in SEC disclosure failure case
GTT Communications, a provider of telecommunications and internet services, avoided a civil penalty in reaching a settlement with the Securities and Exchange Commission addressing alleged disclosure failures over more than a two-year period.
-
PremiumCFTC commissioner floats pilot program for digital asset markets
Commissioner Caroline Pham of the Commodity Futures Trading Commission proposed the agency develop a regulatory pilot program for digital asset markets where new initiatives could be introduced and refined.
More from Regulatory Enforcement
-
ArticleNursing home chain and former CEO pay $146M each for federal health fraud
A New Jersey and Midwest nursing home chain, and its former chief executive, must pay more than $146 million each for extensive health care fraud for engaging in widespread fraud related to Medicare and Medicaid.
-
News BriefU.S. Treasury faces new pressure over unreleased Epstein bank records
The release of thousands of emails written by Jeffrey Epstein has sparked a political storm. One Democratic Senator is ramping up pressure for the U.S. Treasury to also disclose the deceased financier’s bank records.
-
ArticleHorizon Blue Cross Blue Shield pays $100M to settle state false claims allegations
Horizon Blue Cross Blue Shield of New Jersey has agreed to pay $100 million to settle allegations that its 2020 contract with the state was fraudulent, according the state’s Attorney General.