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Citi, UBS, BNY and three others fined in CFTC Enforcement Sprint Initiative

Image of a mobile phone depicting trade data.
Photo: Cheng Xin/Getty Images

Six major banks agreed to pay penalties to resolve compliance violations, most of them receiving maximum cooperation credit.

The CFTC just issued an enforcement sweep, bringing charges against six firms: Citi, BNY, U.S. Bank, UBS, Santander and SMBC, with the fines assessed totaling more than $8.3m.

The charges are being part of the completion of Acting Chairman Caroline Pham’s Enforcement Sprint Initiative under which eligible