CFTC fines Wells Fargo $14m for FX misprice

Wells Fargo alamy 230x150
By GlobalCapital
11 Nov 2019

The US Commodity Futures Trading Commission on Friday ordered Wells Fargo to pay over $14m for its conduct involving a FX forward contract and compliance failures.

CFTC alleges that Wells Fargo Bank violated multiple swap dealer business conduct standards when it entered into a single FX forward contract with a counterparty.

In an order settling charges against Wells Fargo, the CFTC said the bank had failed to deal with a counterparty in a fair ...

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