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U.S. CFTC ratchets up probe of exchange-for-futures deals - FT

Reuters - UK Focus

(Updates with CFTC (Taiwan OTC: 1586.TWO - news) declining to comment)

March 23 (Reuters) - The U.S. Commodity Futures Trading Commission has stepped up a probe into more than a million energy, metals, foreign exchange and other swap transactions, the Financial Times reported on its website on Sunday, citing anonymous sources.

The commission's staff members have sent "Wells notices" as they look into transactions that include "exchanges of futures for swaps," according to the article. Such a notice indicates that the CFTC's staff intends to recommend that commissioners authorize a civil action, the article said.

The article said that it was not clear how many Wells notices have been sent or to whom, but that some have been sent in the past two months.

A CFTC spokesman declined to comment. (Reporting by Lewis Krauskopf; Editing by Jan Paschal and Cynthia Osterman)