U.S. says Wells Fargo to pay $400,000 to settle charges over swaps
- Futures flat as earnings season gathers pace
- Alibaba (BABA) Tops Q3 EPS by 17c, Revenues Rise 54%
- DuPont (DD) Tops Q4 EPS by 9c; Sees Merger Closing in First Half
- Johnson & Johnson (JNJ) Tops Q4 EPS by 2c; Guides Modestly Below the Street
- Barclays Downgrades Apple (AAPL) to Equalweight, Concerned India/China Will not Emerge As Growth Catalysts
A Wells Fargo Bank is shown in Charlotte, North Carolina, U.S., September 26, 2016. REUTERS/Mike Blake
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
WASHINGTON (Reuters) - Wells Fargo Bank has settled federal charges over inaccurate large trader reports for physical commodity swaps positions, the U.S. Commodity Futures Trading Commission said on Tuesday, ordering the firm to pay a $400,000 penalty.
In a statement, the CFTC said Wells Fargo must also "cease and desist from committing further violations" of U.S. regulations as part of the order filed and settled on Tuesday.
(Reporting by Tim Ahmann and Susan Heavey; Editing by Doina Chiacu)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Mexico could pull out of NAFTA if renegotiation unfavorable: official
- Whirlpool to cut 500 EMEA jobs in dryer manufacturing unit
- UPDATE: Wells Fargo Downgrades Verizon Communications (VZ) to Market Perform
Create E-mail Alert Related CategoriesGeneral News, Litigation, Reuters
Related EntitiesWells Fargo
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!