trending Market Intelligence /marketintelligence/en/news-insights/trending/Gp_QOspqDuQ60r1b9KUYKw2 content esgSubNav
In This List

CFTC orders E*TRADE Financial units to pay penalty over supervisory failures

Blog

Banking Essentials Newsletter: 7th February Edition

Case Study

A Bank Outsources Data Gathering to Meet Basel III Regulations

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

Blog

Banks’ Response to Rising Rates & Liquidity Concerns


CFTC orders E*TRADE Financial units to pay penalty over supervisory failures

The Commodity Futures Trading Commission has ordered E*TRADE Securities LLC and E*TRADE Clearing LLC to jointly pay a $280,000 civil monetary penalty for failing to preserve audit trail logs for customers.

The agency also ordered the companies to cease and desist from violating further regulations of the Commodity Exchange Act.

The violations at E*TRADE Securities occurred between October 2009 and January 2014, while E*TRADE Clearing's violation occurred after it registered as a futures commission merchant with the CFTC in February 2013.

The order also requires the two entities to improve their recordkeeping procedures by updating their policies and procedures and providing appropriate training to officers and employees regarding the Commodity Exchange Act's recordkeeping requirements.

E*TRADE Securities and E*TRADE Clearing are units of E*TRADE Financial Corp.