- 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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The Commodities Futures Trading Commission fined TOTSA TotalEnergies Trading $48 million for allegedly engaging in price manipulation, with Commissioner Carolyn Pham defending a compliance officer at the Swiss energy company accused of making false statements.
BNY, formerly BNY Mellon, will pay a $5 million fine to the Commodity Futures Trading Commission for “significant reporting failures” related to its swap dealer business.
Caroline Pham, a commissioner on the Commodity Futures Trading Commission, criticized the agency’s policy on credit for self-reporting violations as a “bait-and-switch.”
A bank examiner and senior manager at the Federal Reserve Bank of Richmond pled guilty to insider trading after allegedly misappropriating confidential information on seven banks to make profitable trades.
New York-based investment firm Drexel Hamilton will pay more than $1.1 million in penalties, with four current and former employees paying fines as well over committing hundreds of violations of rules regarding the sale of municipal bonds.
A publicly traded cryptocurrency mining company will pay $10 million and completely change its business model to one with “lower corruption risk” as part of a settlement over violations of the Foreign Corrupt Practices Act (FCPA), two regulators announced.
