CFTC fines BNP Paribas for rate rigging

摘要

US federal regulators last week ordered BNP PARIBAS to pay a US$90m civil penalty after settling charges against its securities unit for attempted manipulation of the ISDAfix benchmark. Companies and investors use ISDAfix to price swaps transactions, commercial real estate mortgages and structured debt securities. The Commodity Futures Trading Commission order found that BNP Paribas attempted to manipulate the benchmark to benefit its derivatives positions in instruments and that the conduct involved multiple traders and included supervisors, it said in a statement.