Release Number 5470-08
For Release: March 12, 2008
BNP Paribas Commodity Futures, Ltd. of London to Pay a $25,000 Civil Monetary Penalty to Settle CFTC Charges of Large Trader Reporting Violations
Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) announced today that BNP Paribas Commodity Futures, Ltd. (CFL) will pay a $25,000 civil monetary penalty to settle charges that it failed to provide to the CFTC timely and accurate account information for a reportable large trader account, as required by CFTC regulations.
To comply with the CFTC’s reporting requirements, CFL filed a report identifying an account that had become a reportable large trader account, known as a “Special Account.” However, the large trader report filed by CFL misidentified the account controller and used an account reporting number that was not unique, which violated the CFTC’s reporting rules.
The following CFTC Enforcement Division staff members were responsible for the case: Michael McLaughlin, Lenel Hickson, Jr., Stephen J. Obie, and Vincent A. McGonagle.
Last Updated: March 12, 2008