The Commodity Futures Trading Commission (CFTC) today issued two orders simultaneously filing and settling charges against U.S. Bank, N.A., a swap dealer, and against Oppenheimer & Co., Inc., an introducing broker, for failing to maintain and preserve records that were required to be kept under CFTC recordkeeping requirements and failing to diligently supervise matters related to their businesses as CFTC registrants.
The settling registrants admit the facts detailed in the orders, are ordered to cease and desist from further violations of recordkeeping and supervision requirements, and are ordered to comply with specified remedial undertakings.
The orders require U.S. Bank to pay a $6 million civil monetary penalty and Oppenheimer to pay a $1 million civil monetary penalty.
The orders find from at least 2019 to the present, both…
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