Pnc Capital Advisors Llc

Allegations: THE OCC ALLEGED THAT PNC BANK FAILED TO ADHERE TO THE REQUIREMENTS OF SECTION 102 OF THE FLOOD DISASTER PROTECTION ACT AND ITS IMPLEMENTING REGULATIONS IN CONNECTION WITH 125 COMMERCIAL LOANS. Status: Final Sanction Detail: SEE RESPONSE TO 12.A. PAYMENT MADE ON OR ABOUT MAY 1, 2018. Summary: PNC BANK, WITHOUT ADMITTING OR DENYING ANY WRONGDOING, CONSENTED AND AGREED TO AN ORDER FINDING THAT PNC BANK FAILED TO ADHERE TO THE REQUIREMENTS OF SECTION 102 OF THE FLOOD DISASTER PROTECTION ACT AND ITS IMPLEMENTING REGULATIONS IN CONNECTION WITH 125 COMMERCIAL LOANS.

Allegations: THE OCC ALLEGED THAT PNC BANK, NA FAILED TO FORCE PLACE INSURANCE IN A TIMELY MANNER ON RESIDENTIAL DESIGNATED LOANS IN VIOLATION OF THE FLOOD DISASTER PROTECTION ACT (FLOOD ACT). Status: Final Sanction Detail: SEE RESPONSE TO 12.A - PAYMENT MADE ON OR ABOUT JULY 18, 2022. Summary: PNC BANK, WITHOUT ADMITTING OR DENYING ANY WRONGDOING, CONSENTED AND AGREED TO AN ORDER FINDING THAT PNC BANK FAILED TO ADHERE TO THE REQUIREMENTS OF 12 C.F.R. §22.7(A) (FORCE PLACEMENT OF FLOOD INSURANCE).

Allegations: THE OCC ALLEGED THAT PNC, NA BANK FAILED TO ADHERE TO THE REQUIREMENTS OF SECTION 5 OF THE FEDERAL TRADE COMMISSION ACT IN CONNECTION WITH THE WAIVER OF CERTAIN FEES AND THE LINKING OF ACCOUNTS FOR OVERDRAFT PROTECTION TRANSFERS. Status: Final Sanction Detail: SEE RESPONSE TO 12.A. PAYMENT MADE ON OR ABOUT MAY 1, 2018. Summary: PNC BANK, WITHOUT ADMITTING OR DENYING ANY WRONGDOING, CONSENTED AND AGREED TO AN ORDER FINDING THAT PNC BANK FAILED TO ADHERE TO THE REQUIREMENTS OF SECTION 5 OF THE FEDERAL TRADE COMMISSION ACT IN CONNECTION WITH THE WAIVER OF CERTAIN FEES AND THE LINKING OF ACCOUNTS FOR OVERDRAFT PROTECTION TRANSFERS.

Allegations: ON SEPTEMBER 30, 2019, THE COMMODITIES FUTURES TRADING COMMISSION (CFTC) FILED AND SETTLED CHARGES AGAINST PNC BANK, NATIONAL ASSOCIATION (PNC), A PROVISIONALLY REGISTERED SWAP DEALER, FOR FAILING TO COMPLY WITH PNC'S SWAP REPORTING OBLIGATIONS AS A SWAP DEALER. ACCORDING TO THE ORDER, PNC FAILED TO PROPERLY REPORT LEGAL ENTITY IDENTIFIERS, PRIMARY ECONOMIC TERMS, AND CONTINUATION DATA TO ITS SWAP DATA REPOSITORY (SDR); FAILED TO FILE LARGE TRADER REPORTS FOR ITS PHYSICAL COMMODITY SWAPS; AND FAILED TO TIMELY REPORT CERTAIN TRADES TO ITS SDR. Status: Final Sanction Detail: 100% OF THE PENALTY AGAINST CONTROL AFFILIATE PNC BANK, NA. Summary: ON SEPTEMBER 30, 2019, THE COMMODITIES FUTURES TRADING COMMISSION (CFTC) FILED AND SETTLED CHARGES AGAINST PNC BANK, NATIONAL ASSOCIATION (PNC), A PROVISIONALLY REGISTERED SWAP DEALER, FOR FAILING TO COMPLY WITH PNC'S SWAP REPORTING OBLIGATIONS AS A SWAP DEALER. ACCORDING TO THE ORDER, PNC FAILED TO PROPERLY REPORT LEGAL ENTITY IDENTIFIERS, PRIMARY ECONOMIC TERMS, AND CONTINUATION DATA TO ITS SWAP DATA REPOSITORY (SDR); FAILED TO FILE LARGE TRADER REPORTS FOR ITS PHYSICAL COMMODITY SWAPS; AND FAILED TO TIMELY REPORT CERTAIN TRADES TO ITS SDR. THE CFTC ORDER IMPOSES A $300,000 CIVIL MONETARY PENALTY ON PNC, AMONG OTHER SANCTIONS, FOR THESE REPORTING VIOLATIONS. PNC'S REPORTING FAILURES WERE IN VIOLATION OF THE REPORTING REQUIREMENTS OF PARTS 20, 43, AND 45 OF THE CFTC REGULATIONS. THE ORDER RECOGNIZES PNC'S SELF-REPORTING BEFORE PNC KNEW THE FULL EXTENT OF ITS VIOLATIONS AND PNC'S FULL COOPERATION WITH THE CFTC DIVISION OF ENFORCEMENT, THE CFTC DIVISION OF SWAP DEALER AND INTERMEDIARY OVERSIGHT, AND THE CFTC DIVISION OF MARKET OVERSIGHT. THE ORDER ALSO RECOGNIZES PNC'S REMEDIATION OF ITS SWAPS REPORTING ISSUES BOTH ON AN ONGOING BASIS AND WITH RESPECT TO HISTORICAL REPORTS, INCLUDING TRANSACTIONS NO LONGER ON PNC'S BOOKS.