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HSBC faces first CFTC charges ever over swap-dealer risk management violations

( October 1, 2019, 22:35 GMT | Official Statement) -- MLex Summary: HSBC Bank USA became the first financial institution to be charged with violating swap-dealer risk management regulations by the US Commodity Futures Trading Commission and will pay a $650,000 civil monetary penalty.  In addition, Société Générale, Northern Trust, NatWest Markets, Bank of New York Mellon, and PNC will pay total of over $5 million for unrelated reporting failures, the CFTC said in a statement.Statement follows in full. ...

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