November 6, 2017 / 7:36 PM / a year ago

Cargill Inc to pay $10 million fine for inaccurate swaps information -CFTC

WASHINGTON, Nov 6 (Reuters) - Cargill Inc will pay a $10 million fine for providing inaccurate mid-market marks on swaps, which concealed the company’s full markup, and for failing to supervise swap dealer employees, the Commodity Futures Trading Commission said on Monday.

“Specifically, the CFTC Order finds that Cargill provided counterparties and the SDR inaccurate marks which had the effect of concealing up to ninety percent of Cargill’s mark-up,” the CFTC said in a statement. (Reporting by Doina Chiacu; Editing by Bernadette Baum)

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