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HomeBankingCFTC: Fines Goldman Sachs $15 Million for Violating Swap Business Conduct Standards

CFTC: Fines Goldman Sachs $15 Million for Violating Swap Business Conduct Standards

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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

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