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Violation Tracker Individual Record

Company: Truist Bank
Current Parent Company: Truist Financial
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $3,000,000
Year: 2024
Date: August 14, 2024
Offense Group: financial offenses
Primary Offense: investor protection violation
Secondary Offense: financial institution supervision failures
Violation Description: The Commodity Futures Trading Commission issued an order simultaneously filing and settling charges against North Carolina swap dealer Truist Bank. The order found Truist failed to maintain, preserve, or produce records required to be kept under CFTC recordkeeping requirements. Truist also failed to diligently supervise matters related to its business as a CFTC swap dealer.
Level of Government: federal
Action Type: agency action
Agency: Commodity Futures Trading Commission
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: North Carolina
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data: (click here)
Archived Source: (click here)
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.