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CFTC fines two firms for firm-wide use of unapproved comms

Photo: Spencer Platt/Getty Images

Thomas Hyrkiel, Julie DiMauro

2 min read
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US Bank and Oppenheimer & Co fined $6m and $1m respectively for recordkeeping lapses.

These fines bring the total penalties imposed by the CFTC since December 2021 for firms’ use of unapproved communications methods to $1.124 billion.

The recordkeeping and supervision failures at both firms took place at least since 2019 and extended to the present day. The failures were firm-wide and involved employees at all

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