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U.S. CFTC orders Commerzbank AG to pay $12 million for swap dealing violations

Published 11/08/2018, 11:50 AM
Updated 11/08/2018, 12:00 PM
© Reuters. FILE PHOTO: A Commerzbank logo is pictured in Frankfurt

WASHINGTON (Reuters) - The U.S. Commodity Futures Trading Commission ordered Commerzbank AG (DE:CBKG) on Thursday to pay a $12 million civil penalty to settle charges that it failed to supervise its swap dealing activities for more than five years and making misleading statement to the CTFC, the agency said.

© Reuters. FILE PHOTO: A Commerzbank logo is pictured in Frankfurt

The order also requires Commerzbank to retain an outside consultant to review swap dealer compliance for two years, the CFTC said in a statement.

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