CFTC: Fines Goldman Sachs $15 Million for Violating Swap Business Conduct Standards
- CFTC has issued an order against Goldman Sachs for violating Business Conduct Standards applicable to swap dealers
- The violations include failure to disclose dozens of pre-trade-mid-market marks (PTMMM)
- Goldman admitted to violating a regulation by failing to disclose accurate PTMMMs for nearly all “same-day”
- The order imposes a $15 million civil monetary penalty on Goldman
- The Business Conduct Standards aim to promote transparency and fairness in the swaps market
- It will aggressively pursue swap dealers who violate these standards, according to Director of Enforcement Ian P. McGinley
