JSC VTB Bank, VTB Capital jointly to pay $5 million for fictitious, noncompetitive block trades of Russian Ruble/US Dollar futures
( September 19, 2016, 21:06 GMT | Official Statement) -- MLex Summary: The US Commodity Futures Trading Commission on Monday settled charges against banking institutions JSC VTB Bank and VTB Capital for executing fictitious and noncompetitive block trades in Russian Ruble/US Dollar futures contracts, which were cleared through the Chicago Mercantile Exchange. VTB and VTB Capital will jointly and severally pay a $5 million civil monetary penalty.Statement follows in full. Also see document below. ...
Prepare for tomorrow’s regulatory change, today
MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.
Know what others in the room don’t, with features including:
- Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
- Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
- Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
- Curated case files bringing together news, analysis and source documents in a single timeline
Experience MLex today with a 14-day free trial.