CFTC steps up enforcement of data reporting violations

The CFTC has recently been flexing its muscles to ensure firms comply with data reporting rules, handing out fines to companies such as Ice, JP Morgan and Marubeni. The moves are raising fears that energy companies and other end-users may be targeted next

Fears exist that the CFTC will actively pursue end-user reporting violations

It was a stinging rebuke to a top player in the energy markets, renowned for its technological prowess and its nimble approach to regulatory change. On March 16, the US Commodity Futures Trading Commission (CFTC) slapped a $3 million fine on Atlanta-based Ice, accusing the exchange of sending inaccurate data to the CFTC. Over a period of 20 months, lasting from October 2012 to May 2014, Ice submitted thousands of erroneous reports about trading activity in its marketplaces, despite repeated

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