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Form 424B2 Jefferies Financial Grou

Form 424B2 Jefferies Financial Grou

Form 424B2 Jefferies Financial Grou

CFTC Orders 11 Financial Institutions To Pay Over $710 Million For Recordkeeping And Supervision Failures For Widespread Use Of Unapproved Communication Methods - Registered Swap Dealers And Fcms Admit Use Of Texts, Whatsapp And Other Unapproved Methods To Conduct Business

<p><span>The Commodity Futures Trading Commission today issued orders simultaneously filing and settling charges against swap dealer and futures commission merchant (FCM) affiliates of 11 financial institutions for failing to maintain, preserve, or produce records that were required to be kept under CFTC recordkeeping requirements, and failing to diligently supervise matters related to their businesses as CFTC registrants.</span></p>

Statement Of CFTC Commissioner Kristin N. Johnson Regarding CFTC Orders For $700 Million Penalty Against Bank-Affiliated Entities For Offline Communications

<p><span>Today, the Commodity Futures Trading Commission (CFTC or Commission) issued a series of orders settling charges against swap dealers and affiliated futures commission merchants</span><a href="https://www.cftc.gov/PressRoom/SpeechesTestimony/johnsonstatement092722# ftn1">[1]</a><span>&nbsp;(Bank-Affiliated Entities) for failing to maintain, preserve, and produce records in compliance with CFTC recordkeeping requirements and for failing to diligently supervise matters related to their businesses as CFTC registrants. These orders require market participants who failed to meet legal and compliance obligations under the Commodity Exchange Act (CEA) and CFTC regulations to pay over $700 million in civil monetary penalties collectively and to implement immediate and effective remediation measures to ensure appropriate recordkeeping and supervision.</span></p>