CFTC imposes a $45 million penalty on HSBC for manipulative and deceptive trading LeapRate

May 15, 2023 BY Steffy Bogdanova

CFTC imposes a $45 million penalty on HSBC for manipulative and deceptive trading

Additionally, the regulator accused HSBC’s subsidiary of attempting to manipulate on-screen prices, which were partly based on issuer swaps, by engaging in spoofing activities with interdealer brokerages that controlled the screens. Spoofing involves placing orders with the intention of canceling them before execution, constituting fraudulent behavior. According to the CFTC, HSBC traders deliberately traded at…

August 14, 2018 BY Valentina Kirilova

CFTC to retain current de minimis level for swap dealer definition

FIA and the FIA Principal Traders Group (together, FIA) have announced that they have urged the Commodity Futures Trading Commission (CFTC) to retain the current $8 billion de minimis threshold for swap dealer registration and to modify the calculation methodology to better align it with the goals of a well-regulated derivatives market. Among the modifications,…

February 02, 2017 BY Valentina Kirilova

CFTC issues time-limited no-action relief for swap dealers doing business in EU

The U.S. Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) issued a time-limited no-action letter stating that, from February 4, 2017 to May 8, 2017, it will not recommend an enforcement action against a swap dealer (SD) that is subject to, and in compliance with, the margin requirements for non-centrally…

December 17, 2014 BY Andrew Saks-McLeod

CFTC bids farewell to swap dealer regulation chief Gary Barnett

Mr. Barnett joined the CFTC in August 2011 to organize and head the newly created DSIO, subsequently creating the regulator's swap dealer compliance and registration programs. His tenure at the CFTC has included leading responses to FCMs and FX dealer crises following the failure of MF Global

Tag: swap dealer