A New York bank agreed to settle allegations by the Board of Governors of the Federal Reserve System concerning deficiencies in the bank's capital treatment of certain assets.

In testimony before the U.S. Senate Committee on Appropriations Subcommittee on Financial Services and General Government, SEC Chair Jay Clayton and CFTC Acting Chair J. Christopher Giancarlo defended their agencies' respective budget requests for fiscal year 2018.

The CFTC Office of the Inspector General issued a report criticizing the CFTC's cost-benefit consideration of the margin rule for uncleared swaps.

The Committee on Payments and Market Infrastructures and IOSCO solicited public comment in response to a consultative report on certain data elements for over-the-counter derivatives.

The U.S. District Court for the Southern District of New York imposed strict penalties on a New York-based commodity pool operator for making false statements about its trading activity and failing to provide proper disclosures.