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SocGen to pay $1.5 million civil fine to settle U.S. CFTC charges By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO – The logo for French bank Societe Generale can be seen in front of a Paris bank, France on February 9, 2021. REUTERS/Sarah Meyssonnier

WASHINGTON (Reuters) – Société Générale (PA:) S.A. has agreed to pay $1.5 million to settle U.S. Commodity Futures Trading Commission charges of failing to comply with certain swap dealer requirements, the agency said on Wednesday.

Société Générale failed to comply with requirements for disclosing mid-market marks to counterparties and reported inaccurate swap valuation data, the CFTC said in a statement.

Societe Generale (OTC:) did not admit or deny the CFTC’s findings.

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