meta_id 3372991

On August 3, 2026, the US Commodity Futures Trading Commission (CFTC) announced an enforcement order against UBS Financial Services Inc., a registered futures commission merchant, for failing to diligently supervise its anti-money laundering (AML) transaction monitoring systems for wire transfers denominated in foreign currencies (FX). Under the order, UBS Financial Services Inc. must pay an $8m civil monetary penalty and cease and desist from further violations of the Commodity Exchange Act and CFTC regulations . The CFTC found that from January 2019 through June 2023, deficiencies in UBS Financial Services Inc.'s configuration of surveillance tools and data governance practices resulted in thousands of FX wires sent or received through retail customer commodity accounts being either insufficiently monitored or omitted from AML transaction monitoring entirely. During part of this period, UBS Financial Services Inc. used a manually generated report that failed to capture all relevant FX wires and was not tailored to identify suspicious activity patterns. The firm was aware of these vulnerabilities, as they had been identified in prior enforcement proceedings by other government agencies and a self-regulatory organization. In 2021, UBS Financial Services Inc. transitioned to an automated system for monitoring wire transactions; however, it failed to properly configure the data flowing into the new system, which continued to impair its suspicious activity monitoring function. The Financial Crimes Enforcement Network (FinCEN), the Securities and Exchange Commission (SEC), and the Financial Industry Regulatory Authority (FINRA) simultaneously filed and settled related enforcement actions against UBS Financial Services Inc. The CFTC acknowledged the firm's remediation efforts in connection with this matter.