U.S. derivatives regulator fines Goldman Sachs $1 million for record-keeping lapses
Reuters
Published Nov 26, 2019 11:30AM ET
Updated Nov 26, 2019 11:41AM ET
U.S. derivatives regulator fines Goldman Sachs $1 million for record-keeping lapses
WASHINGTON (Reuters) - The U.S. Commodity Futures Trading Commission (CFTC) said on Tuesday it had ordered Goldman Sachs (N:GS) 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.
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