NEW YORK (Reuters) – The Financial institution of New York Mellon (NYSE:) has agreed to pay $5 million to settle U.S. Commodity Futures Trading Fee expenses for repeatedly failing to appropriately report thousands and thousands of swap transactions, violating a earlier order, the regulator mentioned in a press release on Monday.

BNY repeatedly didn’t appropriately report a minimum of 5 million swap transactions and didn’t correctly supervise its swap seller enterprise from about 2018 by 20123, the CFTC mentioned in its assertion.

A lot of these failures violated a earlier CFTC order in opposition to the agency from 2019, the regulator mentioned.

BNY additionally determined to retain an unbiased compliance advisor to assessment its compliance program, along with paying the civil penalty, the CFTC mentioned.

A spokesperson for BNY didn’t reply instantly to request for remark.