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Swaps trader penalized for deleting messages

A close-up shot of an iPhone screen displaying the home screen with popular instant messaging applications, highlighting the green WhatsApp icon and the blue Telegram icon next to it
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CFTC found trader also made false or misleading statements about removing texts and messages relevant and material to the regulator’s investigation.

The CFTC has settled with a dollar swaps trader employed as a managing director of an unnamed investment bank in connection with a long-running investigation that involved a preservation order.

The order in question covered communications with current and former employees, communications covering specific issuance, and trading in “any messaging

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