On September 17, 2015, the CFTC issued an Order filing and settling charges against Australia and New Zealand Banking Group Ltd. (“ANZ”), an Australia-based financial services company. The CFTC Order fined ANZ $150,000 for violations of Section 4s(f) of the Commodity Exchange Act and CFTC Regulations 20.4 and 20.7 by failing to comply with its obligation to submit accurate large trader reports for physical commodity swap positions. This is the CFTC’s first case enforcing the new Dodd-Frank Act large trader reporting requirements for physical commodity swap positions pursuant to Section 4s(f) of the CEA and Part 20 of the CFTC’s Regulations.
The CFTC press release is available at: http://www.cftc.gov/PressRoom/PressReleases/pr7233-15.
The CFTC Order is available at: http://www.cftc.gov/idc/groups/public/@lrenforcementactions/documents/legalpleading/enfaustraliaorder091715.pdf.