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UK derivatives clearing group ICE Clear Europe to pay $450,000, settling US CFTC consumer-protection charges

( October 6, 2021, 20:13 GMT | Official Statement) -- MLex Summary: UK-based derivatives clearing organization ICE Clear Europe Ltd. (ICEU) will pay $450,000 to settle consumer-protection charges with the US Commodity Futures Trading Commission. According to the CFTC charges, between February 2015 and August 2019, ICEU opened six customer segregated accounts without obtaining executed acknowledgment letters from the depository prior to or contemporaneously with the opening of those accounts, failing to meet CFTC regulatory requirements. The CFTC charges also allege that ICEU failed to create adequate standards and procedures to protect the safety of assets belonging to members and their customers. See statement and document below....

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