CFTC and SEC fine OCC $20m for risk management policies

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By GlobalCapital
05 Sep 2019

The Options Clearing Corporation (OCC) is to pay $20m in penalties and undertake remedial efforts as part of a settlement with the US Securities and Exchange Commission (SEC) and the US Commodity Futures Trading Commission (CFTC).

On Thursday, the SEC and CFTC issued a joint statement detailing sanctions that would apply to OCC in settlement of charges that it failed to implement policies to manage certain risks as required by US laws and SEC and CFTC rules.

The SEC and CFTC orders claim that ...

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