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Will the CFTC impose new regulations on swap reporting by mid-2025?
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Official announcements from the CFTC
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CFTC Orders Bank of New York Mellon to Pay $5 Million for Swap Reporting Failures
Aug 26, 2024, 07:45 PM
The U.S. Commodity Futures Trading Commission (CFTC) has ordered the Bank of New York Mellon to pay a $5 million penalty. This decision comes after the bank was found to have failed in properly reporting millions of swap transactions and in supervising a unit that deals with derivatives. The violations also include a breach of a prior CFTC order. The settlement highlights the regulatory focus on ensuring compliance with swap reporting and supervision standards.
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