The unit of Mizuho Bank agreed to pay the civil penalty and to cease and desist from further violations to settle CFTC allegations that it failed to meet requirements concerning reconciling swap portfolios with counterparties, providing disclosures and reporting transactions, the CFTC said in a statement.

A spokesperson for Mizuho, which did not admit or deny the CFTC findings, did not respond immediately to a request for comment.

(Reporting by Chris Prentice; Editing by Sonya Hepinstall)