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CFTC orders Citigroup to pay $1 million over swap reporting violations By Reuters

by Mike Robinson

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© Reuters. FILEPHOTO: This is a view from the Citibank Corporate Headquarters in New York. It was taken on May 20, 2015. REUTERS/Mike Segar

WASHINGTON (Reuters) – The Commodity Futures Trading Commission (CFTC) on Monday said Citigroup (NYSE:) had agreed to pay $1 million to settle charges it violated swap data reporting rules and supervision rules, and breached a previous CFTC settlement agreed in 2017.

The 2017 order stated that Citigroup’s broker/dealer had failed to report some swap data. In a Monday order, the CFTC found that Citigroup had continued to fall behind in its reporting of swap data. According to the CFTC, it reduced Citigroup’s penalty from $1 million to “recognize Citi’s significant cooperation.”

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