CFTC Orders Truist Bank to Pay $3 Million Penalty and Remediate Recordkeeping and Supervision Failures Relating to Widespread Use of Unapproved Communications Methods
August 14, 2024
August 14, 2024
WASHINGTON, Aug. 14 -- The Commodity Futures Trading Commission issued the following enforcement news release:
The Commodity Futures Trading Commission today issued an order simultaneously filing and settling charges against North Carolina swap dealer . The order finds Truist failed to maintain, preserve, or produce records required to be kept under CFTC recordkeeping requirements. Truist also failed to diligently supervise matters related to its business as a CFTC swap dealer.
The Commodity Futures Trading Commission today issued an order simultaneously filing and settling charges against North Carolina swap dealer . The order finds Truist failed to maintain, preserve, or produce records required to be kept under CFTC recordkeeping requirements. Truist also failed to diligently supervise matters related to its business as a CFTC swap dealer.