SocGen to pay $1.5 million civil fine to settle U.S. CFTC charges

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imageStock Markets19 minutes ago (Sep 29, 2021 06:57PM ET)

(C) Reuters. FILE PHOTO: The logo of French bank Societe Generale is seen outside a bank building in Paris, France, February 9, 2021. REUTERS/Sarah Meyssonnier

WASHINGTON (Reuters) – Societe Generale (PA:SOGN) S.A. has agreed to pay $1.5 million to settle U.S. Commodity Futures Trading Commission charges of failing to comply with certain swap dealer requirements, the agency said on Wednesday.

Societe Generale failed to comply with requirements for disclosing mid-market marks to counterparties and reported inaccurate swap valuation data, the CFTC said in a statement.

Societe Generale (OTC:SCGLY) did not admit or deny the CFTC’s findings.

SocGen to pay $1.5 million civil fine to settle U.S. CFTC charges

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