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CFTC orders two E*Trade units to pay $280,000 civil penalty

WASHINGTON (Reuters) - Chicago-based E*Trade Securities LLC and E*Trade Clearing LLC, units of E*Trade Financial Corp <ETFC.O>, have agreed to pay a $280,000 civil penalty for failing to comply with record-keeping rules, the U.S. Commodities Trading Commission said in a statement on Thursday.

The CFTC said it found that E*Trade Securities units did not preserve and maintain some audit trail logs for their customers and E*Trade Clearing did not preserve and maintain customer audit trail logs after becoming registered as a futures commission merchant.

(Reporting by David Alexander; Editing by Eric Walsh)

 

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