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CFTC penalizes Bank of New York Mellon for swap reporting violations

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CFTC penalizes Bank of New York Mellon for swap reporting violations

The U.S. Commodity Futures Trading Commission filed and settled charges against Bank of New York Mellon Corp. for swap reporting violations.

The company is required to pay a $750,000 civil monetary penalty.

The CFTC found that, from the end of 2012 to 2018, the company failed to correctly report hundreds of thousands of swap transactions and bunched trades to a swap data repository as required by the Commodity Exchange Act and CFTC regulations.