WASHINGTON (Reuters) - Wells Fargo (NYSE:WFC) Bank has settled federal charges over inaccurate large trader reports for physical commodity swaps positions, the U.S. Commodity Futures Trading Commission said on Tuesday, ordering the firm to pay a $400,000 penalty.
In a statement, the CFTC said Wells Fargo must also "cease and desist from committing further violations" of U.S. regulations as part of the order filed and settled on Tuesday.