CFTC - Commodity Futures Trading Commission
CFTC orders HSBC bank USA, N.A. to pay a $45 million penalty for manipulative and deceptive trading in connection with swaps related to bond issuances, spoofing, and supervision and mobile device recordkeeping failures.
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May. 4th, 2023
MSTAR scenario of the month - Anti-Competitive and Manipulative Practices
This month, the "MSTAR Bank" board discusses the "Anti-competitive and manipulative practices" scenario, covering cases such as LIBOR or FX cartel. This is an example of conduct risk addressed by a common model structure based on the breakdown of exposed income. The board will also discuss the value of a comparative assessment of controls for this type of risks. This benchmarking will be made possible by the interoperability of services on the ORX Association iDP Platform.