U.S. CFTC orders six financial institutions to pay fine for reporting failures By Reuters

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U.S. CFTC orders six financial institutions to pay fine for reporting failures

Published Oct 01, 2019 07:14PM ET

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U.S. CFTC orders six financial institutions to pay fine for reporting failures

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WASHINGTON (Reuters) - The U.S. Commodity Futures Trading Commission said on Tuesday it had ordered six financial institutions, including HSBC Bank USA, Societe Generale SA (PA:SOGN) and PNC Bank NA to pay $6 million for reporting failures.

The CFTC said Societe Generale and another financial institution, Northern Trust (NASDAQ:NTRS) Co, were charged with failing to supervise in connection with the reporting failure.

HSBC was also charged with violating swap-dealer risk management regulations, the CFTC said in a statement.

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