The CFTC has fined Cargill $10m for the misreporting of marks to SDRs and counterparties. The CFTC’s press release can be found here. According to the press release, the 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 press release also discusses internal supervision failings despite concerns being raised internally. This article on the Reuters web site covers the fine, and refers to improvements to be made by Cargill to internal controls and employee training, highlighted in an emailed statement.
Last month the FCA fined Merrill Lynch International £34.5 for failure to report trades under EMIR (see here). There have also been several fines on both sides of the Atlantic relating to manipulation (see here).