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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2024-08-20T13:16:00
Brazilian energy and sugar company Raizen Energia SA and its Swiss trading subsidiary will pay $850,000 in fines to settle charges that they engaged in illegal noncompetitive transactions.
Raizen and its subsidiary Raizen Trading SA will pay $750,000 to the Commodity Futures Trading Commission (CFTC) and an additional $100,00 to settle a disciplinary action filed by the Intercontinental Exchange Futures U.S. (ICE Futures), the CFTC said Monday in a press release. Each entity admitted to the facts in the CFTC’s order and agreed to cease and desist from further violations of the Commodity Exchange Act and CFTC regulations, the agency said.
ICE Futures, which operates the futures exchange on which the trades were placed, found that the wash trades violated its rules and that Raizen failed to “diligently supervise Raizen’s ICE-related activities,” the CFTC alleged. ICE Futures did not respond to a request for comment on its disciplinary action.
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News and analysis for the well-informed compliance or audit exec.
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2024-06-17T20:35:00Z By Aaron Nicodemus
Singapore-based commodity trading company Trafigura will pay $55 million to the Commodity Futures Trading Commission to settle charges related to fraud, manipulation, and impeding whistleblower communications with the agency.
2024-06-12T21:18:00Z By Aaron Nicodemus
Caroline Pham, a commissioner at the Commodity Futures Trading Commission, said compliance officers have a lot to worry about if they or their firms are subject to CFTC enforcement during her fireside chat at CW’s Financial Crimes Summit.
2024-04-04T01:27:00Z By Jeff Dale
The Commodity Futures Trading Commission ordered an Australian swap dealer to pay $500,000 over admitted supervision failures related to a deficient spoofing surveillance tool.
2024-08-20T18:56:00Z By Adrianne Appel
PricewaterhouseCoopers agreed to pay 15 million pounds (U.S. $19.5 million) for failing to report suspicions of fraud taking place at investment firm London Capital & Finance before it collapsed, the Financial Conduct Authority announced.
2024-08-19T19:25:00Z By Jeff Dale
Spain’s data protection authority fined retailer Uniqlo Europe 270,000 euros (U.S. $294,000) over admitted violations of the European Union’s General Data Protection Regulation.
2024-08-16T18:17:00Z By Jeff Dale
The Commerce Department’s Bureau of Industry and Security issued guidance to academic research institutions on trends in voluntary self-disclosure to improve export control compliance.
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