Action against Respondent, a former managing director of the inflation desk at a financial services company, for alleged mismarking of swap valuations. According to the CFTC, Respondent concealed trading losses by entering false swap valuations into an internal spreadsheet and later tried to conceal this misconduct by falsifying versions of the spreadsheet. Respondent has agreed to pay a $350,000 civil penalty, post-judgment interest, and to permanent trading and registration bars. The CFTC has closed a related investigation into the financial services company and its subsidiary broker-dealer.

CFTC Press Release

CFTC Order

CFTC Declination Letter