Alphavalue / Divacons | The Cantabrian bank received a second fine from the US authorities for the use of inappropriate communication channels by its employees since 2021. The Commodity Futures Trading Commission (CFTC) has imposed a $500,000 penalty on the Spanish parent company and its US subsidiary Santander US Capital Markets. This penalty is in addition to the $4 million fine that the SEC had already imposed on the entity in January for the same deficiencies.
Meanwhile, the US Treasury Department requested information from Santander and four major Brazilian banks (Banco do Brasil, Bradesco, Itaú and BTG) on the application of the international sanctions regime. According to the communication, reported by Reuters, the US authorities are requesting data on the measures these banks have taken or plan to implement in relation to the Magnitsky Act, which targets perpetrators of serious human rights abuses.
