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Barclays fined by CFTC for inaccurate swaps position reports

Barclays fined

The Commodity Futures Trading Commission says Barclays failed to submit accurate reports on large traders’ positions for physical commodities swaps. Reuters photo by┬áSergio Perez.

Barclays fined $560,000

July 6 (Reuters) – The U.S. Commodity Futures Trading Commission ordered Barclays Plc to pay $560,000 on Wednesday, saying the bank failed to submit accurate reports on large traders’ positions for physical commodities swaps.

The CFTC found that between July 2012 and March 2013, Barclays submitted reports with incorrect position information for certain transactions, it said in a statement. The bank did the same in 2014 for positions related to crude oil, natural gas, gasoline, heating oil and agricultural products, the CFTC said.

The CFTC regulates futures and options markets in the United States.

(Reporting By David Gaffen; Editing by Chizu Nomiyama)

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