U.S. CFTC Orders The Bank Of New York Mellon To Pay $5M For Swap Reporting And Supervision Failures And Violation Of Prior CFTC Order
Portfolio Pulse from Benzinga Newsdesk
The U.S. Commodity Futures Trading Commission (CFTC) has ordered The Bank of New York Mellon to pay a $5 million penalty for failures in swap reporting, supervision, and violation of a prior CFTC order.
August 26, 2024 | 7:17 pm
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The Bank of New York Mellon has been fined $5 million by the CFTC for swap reporting and supervision failures, as well as violating a prior CFTC order.
The $5 million fine indicates a significant regulatory issue, which could negatively impact investor sentiment and the stock price in the short term. The fine relates to swap reporting and supervision failures, highlighting potential compliance weaknesses.
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