U.S. derivatives regulator fines Goldman Sachs $1 million for record-keeping lapses

FAN Editor 4 years ago
FILE PHOTO: The ticker symbol and logo for Goldman Sachs is displayed on a screen on the floor at the NYSE in New York
FILE PHOTO: The ticker symbol and logo for Goldman Sachs is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., December 18, 2018. REUTERS/Brendan McDermid/File Photo

November 26, 2019

WASHINGTON (Reuters) – The U.S. Commodity Futures Trading Commission (CFTC) said on Tuesday it had ordered Goldman Sachs <GS.N> to pay $1 million for failing to make and keep certain audio recordings in relation to its swap trading business.

The agency found that a software problem resulted in the bank failing to record the phone lines of trading and sales desks for around three weeks in 2014. The problem came to light after the bank was unable to provide audio calls when asked by the CFTC in relation to a separate investigation by the regulator, it said on Tuesday.

(Reporting by Michelle Price)

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