WASHINGTON – The Commodity Futures Trading Commission (CFTC) said Monday that it has filed and settled charges against Refinitiv US SEF LLC in the agency’s first enforcement action against a swap execution facility over reported violations.
The CFTC said in a statement, Refinitiv, which provides financial data and software to traders, banks, and investors, has been charged $30 million for failing to report certain swap data for at least 320,000 transactions from February 2016 to August 2020. has agreed to pay a civil penalty of 650,000. It said that on several occasions, the firm either knew or had reason to suspect that it was not fully complying with the requirements. The regulator said that Refinitiv eventually reported the breach to the CFTC.
A spokesperson for Refinitiv, which did not accept or deny the CFTC’s findings, said the firm has worked closely with the agency to identify and resolve the issues and that clients’ compliance has not been affected.
The firm is owned by the London Stock Exchange Group and is the largest client of Reuters News. Thomson Reuters, the parent company of Reuters News, holds a minority stake in LSE.
This News Originally From – The Epoch Times