CFTC Orders SG Americas Securities, LLC To Pay A $750,000 Civil Monetary Penalty For Its Participation In Wash Transactions And Related Supervision Failures - CFTC Finds That The Firm Lacked Adequate Controls And Procedures To Detect And Prevent The Execution Of Unlawful Wash Exchange Of Futures For Physical Transactions - SG Americas Securities, LLC Is The successor To Newedge USA, LLC

The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order filing and simultaneously settling charges against SG Americas Securities, LLC, as successor to Newedge USA, LLC (Newedge), a financial services firm registered with the CFTC as a Futures Commission Merchant for participating in unlawful wash trades and for failing to diligently supervise over a three and a half year period. The CFTC Order requires SG Americas Securities, as successor to Newedge, to pay a $750,000 civil monetary penalty and comply with an undertaking to improve its internal controls and procedures in order to detect and prevent the execution, clearing and reporting to an exchange of non-bona fide exchange of futures for physical transactions (EFPs).