CFTC fines Goldman Sachs $15m over swap trading violations

Goldman Sachs failed to disclose PTMMMs, and allegedly traded at times that were financially advantageous to the company and disadvantageous to the clients.

The CFTC has imposed a $15m penalty on Goldman Sachs & Co. LLC for violating the CFTC’s Business Conduct Standards, which apply to swap dealers. In particular, the Commission found that the company failed to disclose multiple pre-trade-mid-market marks (PTMMM), which violates Regulation 23.431. Goldman Sachs also failed to communicate

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