Massad: more fines on the way for swap reporting violations

CFTC chairman takes aim at banks falling foul of swap reporting requirements

Timothy Massad, CFTC

The chairman of the Commodity Futures Trading Commission (CFTC), Timothy Massad, has warned that firms failing to comply with the agency's swap data reporting requirements will face stiff financial penalties.

Deutsche Bank was hit with a $2.5 million fine on September 30 for failing to properly report its swaps transactions to swap data repositories (SDR). Massad pointed to the fine as an example of the CFTC's tough stance on reporting violations.

"For those industry participants who do not make

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