The US Commodity Futures Trading Commission (CFTC) has fined Goldman Sachs $120m for attempting to manipulate the the US dollar International Swaps and Derivatives Association Fix (ISDAFIX). The CFTC said the activity took place between January 2007 and March 2012. The regulator also censured the bank for making "various false reports" regarding the benchmark rate. In a statement, Goldman said: "We are disappointed by today's decision but respect it. A spokesperson for Goldman Sachs said measures had been taken to "enhance policies and procedures".
The US Commodity Futures Trading Commission (CFTC) has fined Goldman Sachs $120m for attempting to manipulate the the US dollar International Swaps and Derivatives Association Fix (ISDAFIX). The CFTC said the activity took place between January 2007 and March 2012. The regulator also censured the bank for making "various false reports" regarding the benchmark rate. Aitan Goelman, the CFTC's director of enforcement, said the organisation would continue to be "vigilant and aggressive" in such cases. A spokesperson for Goldman Sachs said measures had been taken to "enhance policies and procedures".