{"id":22371,"date":"2024-08-26T22:12:27","date_gmt":"2024-08-26T22:12:27","guid":{"rendered":"https:\/\/www.thinkadvisor.com\/2024\/08\/26\/bny-to-pay-5m-over-swaps-reporting\/"},"modified":"2024-08-26T22:12:27","modified_gmt":"2024-08-26T22:12:27","slug":"bny-to-pay-5m-over-swaps-reporting","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2024\/08\/26\/bny-to-pay-5m-over-swaps-reporting\/","title":{"rendered":"BNY to Pay $5M Over Swaps Reporting"},"content":{"rendered":"<div class=\"media_block\"><a href=\"https:\/\/feeds.feedblitz.com\/-\/903539573\/0\/thinkadvisor\/\"><img decoding=\"async\" src=\"https:\/\/images.thinkadvisor.com\/contrib\/content\/uploads\/sites\/415\/2024\/08\/BNY-EARNS_640.jpg\" class=\"media_thumbnail\"><\/a><\/div>\n<div><img decoding=\"async\" src=\"https:\/\/images.thinkadvisor.com\/contrib\/content\/uploads\/sites\/415\/2024\/08\/BNY-EARNS_640.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<p>The reduced penalty reflects BNY\u2019s self-reporting, the CFTC said. Last year, Goldman Sachs Group Inc., JPMorgan Chase &amp; Co. and Bank of America Corp. also&nbsp;<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-09-30\/goldman-pays-3-million-to-cftc-over-futures-trading-controls\" target=\"_blank\" rel=\"noopener noreferrer\">settled cases<\/a>&nbsp;with the CFTC over swaps reporting.<\/p>\n<p>\u201cAccurate reporting is a core pillar of the regulatory regime for swaps, and every individual data field matters,\u201d Ian McGinley, the director of the CFTC\u2019s division of enforcement, said in&nbsp;<a href=\"https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8951-24\" target=\"_blank\" rel=\"noopener noreferrer\">a statement<\/a>. \u201cIt is essential that swap dealers get this right.\u201d<\/p>\n<p><em>Credit:&nbsp;Jeenah Moon\/Bloomberg<\/em><\/p>\n<p class=\"disclaimer_message\">Copyright 2024 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The reduced penalty reflects BNY\u2019s self-reporting, the CFTC said. Last year, Goldman Sachs Group Inc., JPMorgan Chase &amp; Co. and Bank of America Corp. also&nbsp;settled cases&nbsp;with the CFTC over swaps reporting. \u201cAccurate reporting is&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":22372,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[1],"jetpack_featured_media_url":"https:\/\/blog.lifeinsurance-orleans.ca\/wp-content\/uploads\/2024\/08\/bny-to-pay-5m-over-swaps-reporting.jpg","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/22371"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=22371"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/22371\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media\/22372"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=22371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=22371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=22371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}