# CFTC Orders HSBC Bank USA, N.A. to Pay a $45 Million Penalty for Manipulative and Deceptive Trading in Connection with Swaps Related to Bond Issuances, Spoofing, and Supervision and Mobile Device Recordkeeping Failures

> CFTC release 8702-23 · 2023-05-12 · **Spoofing** · ENFORCEMENT

## Key facts

- **Release number:** 8702-23
- **Release date:** 2023-05-12
- **Type:** Spoofing
- **Title:** CFTC Orders HSBC Bank USA, N.A. to Pay a $45 Million Penalty for Manipulative and Deceptive Trading in Connection with Swaps Related to Bond Issuances, Spoofing, and Supervision and Mobile Device Recordkeeping Failures
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/8702-23

## 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 8702-23, "CFTC Orders HSBC Bank USA, N.A. to Pay a $45 Million Penalty for Manipulative and Deceptive Trading in Connection with Swaps Related to Bond Issuances, Spoofing, and Supervision and Mobile Device Recordkeeping Failures", 2023-05-12. Retrieved via AI Analytics 2026-07-18 from https://api.ai-analytics.org/cftc-action/8702-23.

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