- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2023-10-12T14:00:00
A commissioner at the Commodity Futures Trading Commission (CFTC) accused Goldman Sachs of perpetuating a corporate culture that tolerates repeated violations of the agency’s rules.
Christy Goldsmith Romero issued a concurring statement in response to the agency’s $30 million fine levied against Goldman Sachs on Sept. 29 for swaps reporting violations. She noted the firm has allegedly violated CFTC rules four times in the past 18 months, with each case resulting in financial penalties.
“As a longstanding federal enforcement official, I am significantly concerned that Goldman is a repeat defendant in federal enforcement cases,” Goldsmith Romero said. “Goldman has a long history of violating federal laws, getting caught, and then settling with federal agencies.”
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The Commodity Futures Trading Commission solidified its view that it should be a primary regulator of cryptocurrencies with a record amount of cases regarding the digital asset space in fiscal year 2023.
The Commodity Futures Trading Commission will consider increasing its enforcement penalties in certain cases to deter future violations of commodities law and punish repeat offenders.
Goldman Sachs, JPMorgan Chase, and Bank of America agreed to pay penalties totaling $53 million across settlements with the Commodity Futures Trading Commission addressing alleged swap reporting failures among their respective affiliates.
TikTok is suspending new features amid an inquiry by the European Commission into its compliance with the Digital Services Act, all while responding to a U.S. ban just signed into law.
The Czech Republic’s data protection authority issued a fine of 351 million Czech koruna (U.S. $15 million) against antivirus software vendor Avast for alleged violations of the General Data Protection Regulation.
Consolidated Nuclear Security agreed to pay $18.4 million to settle alleged False Claims Act violations regarding the submission of timecards for unworked hours to the National Nuclear Security Administration.
