The Commodity Futures Trading Commission has issued subpoenas to ICAP Plc brokers and as many as 15 Wall Street banks as part of an investigation into possible price manipulation of benchmark interest-rate swaps, according to people familiar with the matter.
Despite the intangible in its name, the levy applies broadly to income.
A recent survey suggests treasury and finance executives are not prepared for new technologies that could transform the way they do business.
Prospect of slowdown or halt in Chinese purchases of U.S. government debt gives bond market the jitters.
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