September 13, 2019

Tullett Prebon Americas Inc., an interdealer broker and CFTC-registered introducing broker, has been ordered to pay $13 million to resolve charges that the firm failed to supervise its brokers on the U.S. Dollar Medium Term Interest Rate Swaps Desk and prevent them from making false and misleading statements to customers.  In addition, the CFTC found that Tullett failed to take adequate corrective action when management learned of the problem, and that its brokers made false and misleading statements during a CFTC investigation.  CFTC

Tagged in: Fraud in CFTC-Regulated Markets, Regulatory Violations,