WASHINGTON (Reuters) - The U.S. Commodity Futures Trading Commission said on Tuesday it had ordered six financial institutions, including HSBC Bank USA, Societe Generale SA (PA:SOGN) and PNC Bank NA to pay $6 million for reporting failures.
The CFTC said Societe Generale and another financial institution, Northern Trust (NASDAQ:NTRS) Co, were charged with failing to supervise in connection with the reporting failure.
HSBC was also charged with violating swap-dealer risk management regulations, the CFTC said in a statement.