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Published on Gold Anti-Trust Action Committee (http://www.gata.org)

CFTC orders BNP Paribas to pay $90 million penalty for rate-rigging

By cpowell
Created 2018-08-31 14:38

By Pete Schroeder
Reuters
Wednesday, August 29, 2018

WASHINGTON -- U.S. federal regulators on Wednesday ordered BNP Paribas to pay a $90 million civil penalty after settling charges against BNP Paribas Securities Corp. for attempted manipulation of the ISDAfix benchmark.

Companies and investors use ISDAfix to price swaps transactions, commercial real estate mortgages and structured debt securities.

... Dispatch continues below ...



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The Commodity Futures Trading Commission order found that BNP Paribas attempted to manipulate the benchmark to benefit its derivatives positions in instruments and that the conduct involved multiple traders and included supervisors, it said in a statement. ...

... For the remainder of the report:

https://www.reuters.com/article/us-usa-cftc-bnp-paribas/u-s-cftc-orders-... [2]

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Source URL:
http://www.gata.org/node/18459