# CFTC Orders Five Banks to Pay over $1.4 Billion in Penalties for Attempted Manipulation of Foreign Exchange Benchmark Rates

> CFTC release 7056-14 · 2014-11-13 · **Market manipulation** · ENFORCEMENT

## Key facts

- **Release number:** 7056-14
- **Release date:** 2014-11-13
- **Type:** Market manipulation
- **Title:** CFTC Orders Five Banks to Pay over $1.4 Billion in Penalties for Attempted Manipulation of Foreign Exchange Benchmark Rates
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/7056-14

## What this is

CFTC enforcement actions cover derivatives + commodities + crypto fraud cases. The Commission charges market participants under the Commodity Exchange Act for spoofing, manipulation, fraud, wash trades, registration violations, and pool-operator misconduct. Most actions settle with restitution + civil money penalty + a bar/suspension.


## Citation

> US Commodity Futures Trading Commission, press release 7056-14, "CFTC Orders Five Banks to Pay over $1.4 Billion in Penalties for Attempted Manipulation of Foreign Exchange Benchmark Rates", 2014-11-13. Retrieved via AI Analytics 2026-07-12 from https://api.ai-analytics.org/cftc-action/7056-14.

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