The CFTC reports that it has settled charges against Merrill Lynch Commodities, Inc. (MLCI), a provisionally registered swap dealer that is part of the Bank of America Corp. (BAC), for “spoofing, manipulation, and attempted manipulation over a six-year period with respect to certain precious metals futures contracts.” The settlement will cost MLCI an estimated $25… Read More >>
BofA Pays $30M Penalty to Settle ISDAFIX Case
The U.S. CFTC has imposed a $30 million penalty against Bank of America, N.A. for alleged attempted manipulation and false reporting of the U.S. dollar ISDAFIX benchmark. The CFTC’s order, which both files and settles the charges against BofA, alleges that, beginning in January 2007 and continuing through December 2012, the bank “made false reports… Read More >>
CFTC Hits DBSI with a $70M Civil Monetary Penalty
Deutsche Bank Securities Inc. (DBSI) will pay a $70 million civil monetary penalty for its attempted manipulation of the U.S. dollar ISDAFIX benchmark, according to a recent CFTC order that both filed and settled the charges against the indirect wholly owned subsidiary of Germany’s venerable Deutsche Bank AG. DBSI officials neither admitted nor denied the… Read More >>
