10:57 AM EDT, 09/05/2025 (MT Newswires) -- (Updates with the Bank of New York's response in the eighth paragraph.)

Citigroup ( C ) and UBS (UBS) units were among several firms that agreed to pay a combined $8.3 million to settle US Commodity Futures Trading Commission claims over compliance failures, CFTC said in a statement Thursday.

The settlements addressed violations such as poor recordkeeping and reporting, and were part of the CFTC's "enforcement sprint" initiative launched in March, according to the commission.

UBS, along with its UBS Financial Services and UBS Securities units, will pay $5 million for allegedly failing to oversee trade surveillance systems between 2015 and 2024, according to the statement.

"UBS is pleased to have resolved this matter," a UBS spokesperson said in an emailed statement to MT Newswires.

Citigroup Global Markets agreed to pay $1.5 million after it failed to file accurate trader reports from 2015 through 2022 and lacked proper records for 10 weeks in 2023, the statement added.

SMBC Capital Markets, Banco Santander (SAN) units, and Bank of New York (BK) will each pay $500,000 to resolve claims involving unauthorized communications tools and oversight lapses, according to CFTC.

"Santander is fully committed to meeting our regulatory and compliance obligations," Banco Santander said in an email statement to MT Newswires. "We have cooperated extensively with the CFTC and other regulators in their review of this matter and have made considerable enhancements to our policies and procedures. We are pleased to have this matter fully resolved."

"BNY takes its regulatory responsibilities seriously and is pleased to have resolved this matter," Bank of New York commented in an emailed statement to MT Newswires.

US Bank (USB) will pay $325,000 for submitting inaccurate swap valuation data between 2022 and 2024. The bank said the errors were self-reported and did not affect customers, as per the statement.

The CFTC added that all entities have completed or nearly finished fixing the issues and have agreed to prevent future violations.

Citigroup ( C ), SMBC, and US Bank did not immediately respond to requests for a comment from MT Newswires.

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