The Bank of New York Mellon (BK.N), opens new tab has agreed to pay $5 million to settle U.S. Commodity Futures Trading Commission charges for repeatedly failing to correctly report millions of swap transactions, violating a previous order, the regulator said in a statement on Monday.
BNY repeatedly failed to correctly report at least 5 million swap transactions and failed to properly supervise its swap dealer business from about 2018 through 2023, the CFTC said in its statement.
Many of those failures violated a previous CFTC order against the firm from 2019, the regulator said.
Source: REUTER
