Both companies have been providing credit to a large number of consumers and charging "substantial fees", without holding an Australian credit licence.
The settlement will fully resolve investigations carried out by the DOJ, CFTC and SEC into trades made over nearly ten years.
Sumitomo Mitsui Trust and Mizuho Trust could face business improvement orders, depending on their explanations and the measures they have planned to prevent recurrence.
Prosecutors are looking to determine whether the bank purchased privately placed bonds under Optimus’ request or instruction.
The two former traders were found guilty of fraud charges for their respective roles in manipulating gold and silver futures prices.
The former executive was convicted for accepting bribes, deceiving investors, concealing losses in Lime Asset Management fund products.
The standing authority used to pledge client securities to obtain credit lines from banks was not renewed due to a miscommunication between compliance teams.
The MoU covers case referrals, joint inspections and investigations, and sharing of information pertaining to products and relevant entities or key persons.
The second charge is for a forged email that was used alongside an inter-tank transfer certificate to secure more than $56mn in trade financing.
The conviction is said to be linked to a criminal case involving the head of a Citic Group asset management subsidiary.
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