Tuesday, March 17, 2015

CFTC Orders ICE Futures U.S. Inc. (NYSE: ICE) to Pay $3 Million

The U.S. Commodity Futures Trading Commission (CFTC) issued an order against ICE Futures U.S., Inc. (NYSE: ICE), a designated contract market (DCM). The order charges ICE with "submitting inaccurate and incomplete reports and data to the CFTC over at least a 20-month period, from at least October 2012 through at least May 2014." ICE blamed the issue on technology upgrades and data migration issues, but these issues have nothing to do with the company's ability to respond to CFTC requests for information. The CFTC repeatedly notified ICE, but the company continued to submit inaccurate reports. The order also requires the company to pay $3 million.

To read the original order click here.

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