Two more firms consented to fines by the Commodity Futures Trading Commission for their roles in attempted manipulation of the ISDAFIX benchmark. ICAP Capital Markets agreed to pay a fine of US $50 million for its role in aiding and abetting attempted manipulation of the ISDAFIX benchmark from January 2007 through December 2012, while Bank of America, NA consented to a fine of US $30 million for its attempted manipulation and false reporting of the ISDAFIX benchmark during the same time period. Earlier this month, BNP Paribas Securities Corp. agreed to pay a fine of US $90 million to resolve allegations that, on multiple occasions from approximately May 2007 through at least August 2017, it also attempted to manipulate the USD ISDAFIX. (Click here for details regarding this matter in the article “US-Based Subsidiary of Foreign Bank Agrees to Pay US $90 Million to Resolve Charges of Attempting to Manipulate ISDAFIX Benchmark” in the September 9, 2018 edition of Bridging the Week.)
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Two Firms Agreed to Fines Imposed by CFTC for Attempting to Manipulate ISDAFIX Benchmark
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