Search
 

Citigroup says CFTC Is Probing Banks' Rate-Swap Businesses

Regulator's interest said linked to a pension fund's 2015 antitrust lawsuit.

By Hugh Son and Matthew Leising, Bloomberg | Updated on November 01, 2016

Citigroup Inc. disclosed a new government probe involving the industry’s trading and clearing of interest-rate swaps five months after paying $425 million to resolve claims that it attempted to rig derivatives markets.

The bank is cooperating with the U.S. Commodity Futures Trading Commission, New York-based Citigroup said Monday in a regulatory filing. The case is related to a pension fund’s 2015 antitrust lawsuit alleging that 12 of the biggest swap dealers blocked fund managers from trading the instruments on exchanges to preserve their profits, according to a person with knowledge of the investigation who asked not to be identified because the information isn’t public.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2024 ALM Global, LLC. All Rights Reserved.