By Kitco News / October 14, 2021 / www.kitco.com /
Article Link
Oct 14 (Reuters) - The U.S. Commodity Futures Trading Commission said on Thursday it sanctioned banking group UBS AG (UBSG.S) $500,000 for failing to retain certain audio recordings for the time required under CFTC regulations.
"The order finds that as a result of failures in UBS's audio retention systems, the firm deleted over 1,000 hours of audio data after one day, including voice recording files that were required by CFTC regulations to be retained for one year", the CFTC said in a statement. The order requires UBS to pay a $500,000 civil monetary penalty.
Reporting by Kanishka Singh in Bengaluru, Editing by Franklin Paul
Disclaimer: The views expressed in this article are those of the author and may not reflect those of
Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.